The minister is here on an official visit to hold meetings with his French counterpart and top CEOs.
He said the Indian economy is expected to reach about USD 35 trillion in the next 25 years from the current level of about USD 3.5 trillion.
“We are one the largest consumers of goods and services. Exports of goods and services are growing by over 50 per cent and we hope to continue this growth trajectory. We hope to see our exports of goods and services to triple from USD 765 billion to USD 2 trillion by 2030,” he added.
The minister held a meeting with Olivier Becht, Minister delegate of Foreign Trade, Attractiveness and French Nationals Abroad, Government of France. Both co-chaired the India-France Business Summit.
There are hundreds of French businesses in India in different sectors such as defence, ITES, consulting, engineering services, and heavy industry.
India-France bilateral trade stood at USD 12.42 billion in 2021-22. During April-January 2022-23, India’s exports to France stood at USD 6.5 billion while imports aggregated at USD 4.36 billion. The trade gap is in favour of India.
He said that French companies operating in India are participating in Make in India initiative and smart cities.
“We want to ensure business friendly environment for companies and attract more Indian companies in strategic sectors,” Becht said, adding France is one of the key foreign investments destination in Europe.
For more latest Economy News Click Here