An India-France partnership got fresh impetus from Modi’s visit
The visit of Prime Minister Narendra Modi to France on 13-14 July defined a new era in already-strong bilateral ties between the two countries. The Prime Minister’s official visit to France was significant as well as special, as it also marked the 25th anniversary of the India-France Strategic Partnership. During the visit, the importance of the partnership was highlighted in how it sought to address global challenges, including climate change, clean energy, health, food security, and development, among others.
These would also have major outcomes for businesses and the bilateral economic partnership will benefit long into the future. India and France share long-standing cultural, trade and economic linkages. The India-France strategic partnership, signed in 1998, has gathered significant momentum over time and has today evolved into an even closer multifaceted relationship that spans diverse areas of cooperation, including defence, security, energy, space, education, the environment, trade and people-to-people ties, among many others.
The India-France economic partnership has witnessed steady and robust bilateral trade and investment relations over the years, which have strongly rebounded post the pandemic. Bilateral trade reached a new peak at $13.4 billion in 2022-23, with exports from India crossing $7 billion. Indian imports are also significant and stood at around $5.8 billion during 2022-23.
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