India and France have set a five-year
target to double annual bilateral trade from $16 billion to $32 billion
¨
India and France have set
a five-year target to double annual bilateral trade from $16 billion to $32
billion.
¨
The target was announced
during a meeting between Prime Minister Narendra Modi and President Emmanuel
Macron in Nice on 14 June 2026.
¨
India–France bilateral
trade stood at approximately $15.81 billion in 2025–26.
¨
France is India’s
third-largest trading partner in the European Union (EU) after the Netherlands
and Germany.
¨
Bilateral trade between
India and France has doubled over the past decade.
¨
Both countries agreed to
establish a high-level mechanism to achieve the five-year trade target.
¨ The mechanism will
monitor trade flows, investment linkages, and sector-specific cooperation.
¨ The India–EU Free Trade Agreement (FTA) was concluded in January 2026.
¨ FTAs help reduce tariffs, improve market access, and create common rules for goods, services, and investments.
