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Bilateral trade between India and France below potential: Kovind

Press Trust of India  |  New Delhi 

The bilateral trade between and worth USD 11 billion was far below potential, today said, adding that the trade basket between the two countries could be diversified and new avenues explored.

Welcoming French Emmanuel Macron, Kovind said India's strategic ties with had been expanding not just in traditional sectors of defence, space and civil nuclear energy, but also in the emerging areas of counter-terrorism and maritime and cybersecurity.

"Our economic collaboration is on course. But we can do much better. Our bilateral trade of about USD 11 billion is far below potential. We need to diversify our trade basket and look for new avenues to boost trade," he said.

The noted that close to 1,000 French companies have invested in India, a statement said.

"We value these investments and would encourage to associate with our flagship initiatives such as Make in India, Skill and Digital India," it quoted him as saying.

Underlining that accorded high priority to its strategic partnership with France, the President said,"Our traditional friendship is firmly rooted in the excellent bilateral understanding and mutual respect that we have. Our shared values of democracy, liberty, equality and fraternity bring us even closer".

India commended France's efforts in the global fight against climate change and the two countries stood together in this endeavour, Kovind said.

"Tomorrow, we are co-hosting the and the presence of the French President at the conference will take our climate partnership to newer heights," he said and expressed hope that the event would be able to make a mark globally in bridging the gap between affordable and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, March 10 2018. 22:00 IST