Jaishankar: India, France should have strong relations to promote flow of investment

Acknowledging that France has been a critical economic partner for India, Jaishankar said three areas of vital importance to our collective future – health, climate and digital.

India and France must seize the political trust and economic opportunities that the two countries have to promote the flow of investment and business, Foreign Minister S Jaishankar said on Friday.  Speaking virtually at the Ambition India 2021 event, Jaishankar said he and his counterpart Le Drian often discuss the future of two countries and the world and agreed that commerce, ecological transition, finance, and technology would shape the future. He further said that we must also recognise that we are entering a phase where politics will shape economic choices.

Acknowledging that France has been a critical economic partner for India, Jaishankar said three areas of vital importance to our collective future – health, climate and digital. He added that each is a promising opportunity for our partnership, not just for our economies but also to build our global competitiveness and leadership in the emerging world. Talking about the two countries' businesses, Jaishankar said that the French companies had had a long presence across every sector in the Indian economy, from luxury to defence, agriculture to manufacturing, infrastructure to technology and services. 

On privatisation of public sector units, Jaishankar said that the government is looking to make the economy more efficient and improve return on its assets. "It also offers enormous opportunities to international investors." On India's quest for defence industrialisation and technological self-reliance, he said it offers excellent global opportunities, and France has world-class capabilities.

Meanwhile, Telangana's Minister for Industry and Information Technology, K.T. Rama Rao, was asked to attend as a keynote speaker by the French government. Emmanuel Lenain, France's ambassador to India, invited the minister to the event in a letter. The 'Ambition India Business Forum' is being held under the patronage of Emmanuel Macron, President of the French Republic, to strengthen trade and investment links between France and India.