India-France Business Summit 2023 is being held in Paris to celebrate 25 years of strategic partnership and to strengthen bilateral relations between the two nations.
Strengthening the India-France Strategic Partnership
Union Minister of Commerce and Industry, Shri Piyush Goyal, recently addressed the India-France Business Summit in Paris, highlighting the strong friendship and strategic partnership between the two nations. Over the past 25 years, the relationship between India and France has been characterized by their shared commitment to global good as vibrant democracies, with President Macron and Prime Minister Modi further bolstering ties through expanded engagement in trade, technology, tourism, and investment.
Shared Vision for a Stable Global Economic Order
India and France are united in their concern for a stable global economic order and their belief in consensus and cooperation at both regional and global levels. The bond of friendship and trust between the two countries has been further strengthened by the relentless efforts of business leaders and the Indian community in France, who have contributed to growing trade and economic partnerships.
India’s Golden Era: Opportunities and Growth
Shri Piyush Goyal noted that Prime Minister Modi has referred to India’s potential over the next 25 years as the “Amrit Kaal” or golden era, offering unprecedented opportunities for global economic growth. India’s demographic dividend, significant managerial and technological skills, and immense talent pool make it an attractive destination for businesses worldwide. With basic needs met and digital connectivity expanded, India now offers scale, speed, and skills to the global market.
Expanding International Engagement and Exports
India is rapidly expanding its international engagement, with exports of goods and services experiencing significant growth over the last two years. The upward trend in exports is expected to continue, as the country focuses on improving its infrastructure and logistics, attracting investment and technology in the defense sector, and promoting indigenous manufacturing.
Embracing Innovation, Sustainability, and Gender Equality
Innovation and technology are driving growth in India, with a focus on sustainability at the core. The green economy is emerging as a major area for technology and investment, while the government also prioritizes gender parity and gender equality. As the dialogue between India and France continues to accelerate, trade and investment are expected to expand, further aiding the development journey of both nations. As Prime Minister Modi stated, “When you associate with India’s growth journey, India gives you the guarantee of growth…”
India’s Growing Global Influence
Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Shri Piyush Goyal, recently highlighted India’s growing global influence, particularly its deepening strategic partnership with France. Speaking to members of the Indian Diaspora in Paris, Goyal emphasized India’s commitment to strengthening its partnership with France across various sectors, including defense, economy, and investments.
Reflecting on 25 Years of Partnership and 75 Years of Friendship
Goyal noted that the 25-year strategic partnership between India and France reflects India’s journey of progress. This year also marks 75 years of friendship between the two nations. The vibrant Indian community in France serves as a living bridge, helping to strengthen India’s ties with France in areas such as technology, investments, and tourism.
India’s Development Story and Global Recognition
During the interaction, Goyal narrated India’s development story and highlighted how the nation has emerged as a bright spot on the global stage under the leadership of Prime Minister Narendra Modi. The minister pointed out the changes that have taken place in India over the last 9 years, focusing on the government’s commitment to ensuring that the basic needs of every single person, particularly those in the lowest strata of society, are met.
Government Initiatives Transforming India
Goyal listed several government initiatives that have transformed India, including:
i) Swachh Bharat Mission, which has provided toilets to millions of households.
ii) The provision of cooking gas connections to nearly every home, promoting women’s empowerment and improved health.
iii) Ayushman Bharat, the world’s largest healthcare scheme, providing free healthcare to around 500 million people.
iv) The new National Education Policy, which promotes liberal education, digital connectivity, and encourages startups.
v) Jal Jeevan Mission, focusing on water conservation and management.
These initiatives have reformed India’s way of working and have set the nation on the path to becoming a developed country.
Managing COVID-19 and Building a Better Future
Goyal also praised the Indian government’s management of the COVID-19 pandemic, ensuring that essential services like food and water were available to everyone. The government’s response to the pandemic was widely appreciated by other countries.
With a focus on empowering the youth, promoting sustainability, and making rapid strides in manufacturing and service sectors, India is on the right path towards becoming a developed country. The Minister highlighted that India’s overall exports have grown to US$ 765 billion in 2022-23, showcasing the nation’s capability, capacity, and confidence.
The Indian Diaspora as Ambassadors of India
Goyal emphasized the important role of the Indian diaspora in France, stating that each member is an ambassador of India. He encouraged the Indian community in France to contribute to the “Amrit Kaal” journey, which envisions India as a developed nation by 2047. Goyal concluded by reiterating Prime Minister Narendra Modi’s belief that “this is the time, this is the right time” for India to find its rightful place among the world’s leading nations.
Strengthening Bilateral Relations
As India and France continue to deepen their strategic partnership, both nations can explore new areas of collaboration to drive progress and innovation. Opportunities for joint ventures and investments in sectors such as renewable energy, space research, and artificial intelligence could further strengthen bilateral relations and contribute to global development.
Encouraging Cultural Exchange
Promoting cultural exchange between India and France can foster mutual understanding and appreciation, further strengthening the bond between the two nations. Joint initiatives, such as student exchange programs, film festivals, and art exhibitions, can help showcase the rich cultural heritage of both countries.
Joint Efforts for Climate Change and Sustainability
India and France can work together to address pressing global challenges, such as climate change and environmental sustainability. Joint research and development projects in clean energy technologies, smart cities, and sustainable infrastructure can pave the way for a greener and more sustainable future for both countries and the world.
Expanding Trade and Economic Cooperation
As India’s exports continue to grow, further expanding trade and economic cooperation with France could provide a significant boost to both economies. Opportunities for collaboration in sectors like agriculture, pharmaceuticals, and technology can help diversify the trade portfolio and drive economic growth.
Building a Stronger Indian Community in France
The Indian diaspora in France can play a vital role in strengthening the bond between the two countries. By engaging in community-building initiatives, supporting local businesses, and promoting Indian culture, the Indian community in France can serve as a bridge, fostering stronger connections and nurturing the spirit of cooperation.
India’s strategic partnership with France is a testament to the growing influence of both nations on the global stage. As they celebrate 25 years of partnership and 75 years of friendship, the focus should be on strengthening ties, exploring new avenues for collaboration, and working together to build a brighter future for their citizens and the world.
India-France Business Summit: Exploring New Frontiers in Cooperation