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Overseas Secretary, Harsh Vardhan Shringla, had bilateral talks with theSecretary-Common on December 21. Each side took inventory of the bilateral relationship and mentioned the potential for cooperation in sectors corresponding to defence and safety, area, cybersecurity and the digital economic system, blue economic system, schooling and people-to-people contacts, power, well being and local weather change. Ambassadors of India and France joined the talks.
India’s commerce with France has witnessed a gentle rise within the final decade reaching USD 10.75 billion in 2020. Regardless of the pandemic, it’s estimated that bilateral commerce between the 2 nations in 2021 has reached USD 8.85 billion. To faucet the total potential of bilateral commerce and financial relations, each side reiterated their dedication to restarting negotiations on the India-EU Free Commerce Settlement.
France has emerged as a serious supply of FDI for India with greater than 1,000 French institutions already current in India. France is the eleventh largest international investor in India with a cumulative funding of USD 9.86 billion from April 2000 to June 2021 which represents 1.80% of the overall FDI inflows into India. Most huge French teams have their subsidiaries in India corresponding to BNP Paribas, Capgemini, Airbus, Dassault, Arkema, L’Oréal, Sanofi, Whole, and many others. There are round 200 subsidiaries of Indian companies established in France, which make use of greater than 6,000 folks. Amongst Indian investments in France, majority are in IT providers, prescribed drugs/biotechnologies and hospitality sectors.
Reaffirming their shared dedication to a multipolar world and religion in multilateralism, the Overseas Secretary and the Secretary-Common additionally held discussions on quite a few regional and international problems with mutual curiosity, together with cooperation within the European Union in view of the forthcoming French Presidency, Indo-Pacific, UNSC, state of affairs in Afghanistan, amongst others, based on officers.
Delattre shall be visiting Mumbai on December 21-22, the place he’ll meet different Indian officers.
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