75 more airports planned in India by 2029, says Minister
India and France can collectively expand agricultural and food processing for the world’s food security using innovative sustainable practices, Commerce & Industry Minister Piyush Goyal in New Delhi on 27 Nov https://fieo.org/.
Addressing the Asia Pacific Commission (APAC) 2024 Forum organised by the French Foreign Trade Advisors, he elaborated that using sustainable practices can have a mitigating factor on climate change and its emerging adverse impact across the world https://www.investindia.gov.in/.
Goyal stressed that India and France have a huge potential for partnerships in renewable energy with the International Solar Alliance (ISA) having been a runaway success with over 100 countries as members https://www.nseindia.com/ .
He underlined the efforts of both the countries to take clean and renewable energy to the emerging countries and lesser developed countries of the world https://www.bseindia.com/ .
On the aerospace sector, the Minister pointed out that India is the world’s largest aviation market with the capability of taking its plane order up to 2,000 from the current 1,500 ordered http://airbus.com.
Noting that for the next three decades Indian aviation market will be the largest demand aggregator, he urged the French aviation sector to explore opportunities to set up manufacturing facilities in India.
He also emphasised that India has been building airports rapidly, and the Government is planning to add 75 more airports by 2029 to the current 125. In 2014, there were only 74 airports pan-India http://boeing.com.
He highlighted the rapid expansion in the defence sector, while the Government is encouraging companies from across the world by providing 100% ownership to their investment for manufacturing in India.
The Minister called for a greater collaboration with France in the defence sector, underlinining that the Government, with its robust patent-protected regime, does not insist on technology transfer https://www.makeinindia.com/home/ .
On automobiles and electric vehicles (EVs), the Minister emphasised that India and France have the potential to co-innovate technologies and create a sustainable mobility revolution in India.
He stated that India has a large pool of first-time vehicle owners and providing them with sustainable options will be easier.
On collaboration in digital technology, Goyal pointed out that both nations can foster startups in cybersecurity, AI, e-commerce and quantum technologies.
Noting that India-France Year of Innovation 2026 will be a milestone in fostering technology-driven growth, he stated that this initiative will promote joint projects in IT, healthcare, renewable energy and smart cities.
True strength in the India-France partnership lies in ‘Trust’, he said. Expanding further, he pointed out that both are trusted partners which will strengthen the continued engagement in investments in manufacturing and services.
With Global Capability Centres (GCCs) setting up shop in India to leverage talent and affordability of India operations, India and France have the ability to co-innovate to improve the innovation landscape and also explore knowledge partnerships between academia of two countries, he added.
Speaking about proliferation of trade between the two nations, he shared that bilateral trade for FY24 reached US$15 billion, with Indian exports at US$7 billion and imports at US$8 billion. He emphasised that despite robust trade, these numbers are suboptimal and only narrate a small part of the story.
Given the strength of two economies, he expressed hope that trade between the two countries will grow much bigger, better and faster.
Notably, France is the 11th largest foreign direct investor for India and over 750 companies have its presence here, with 70 Indian companies working in France contributing to employment generation and skill development.
Goyal highlighted that India and France are celebrating 75 years of diplomatic friendship and 25 years of strategic ties this year.
He added that both nations are republics with liberty, equality and fraternity at the core of our constitution, both believe in multilateralism and both nations believe in the rule of law.
The Minister further shared that over the decades India-France partnership has evolved into a robust framework encompassing space exploration, defence, civil nuclear energy, digitalisation and a shared vision for the Indo-Pacific region.
The adoption of the Horizon 2047 roadmap has further consolidated our shared vision for the next 25 years, he said.
The Minister further during his address also invited French collaboration in India’s infrastructure projects involving industrial cities spanning 20 locations across the country creating world-class connectivity and urban ecosystems.
Earlier, Goyal read out a special message from the Prime Minister Narendra Modi underscoring the ties between India and France based on trust, shared values and a forward-looking vision. Fiinews.com
