(LANKAPUVATH | COLOMBO) – India is looking to buy 2000 commercial aircraft over the next 10 years, Union Minister for Commerce and Industry Piyush Goya has said, describing it as a huge opportunity to make these in India.
He highlighted the potential in this regard during a bilateral meeting with French Minister Delegate for Foreign Trade, Economic Attractiveness, and French Nationals Abroad Olivier Becht in Paris on Tuesday.
Referring to the growth in trade between the two countries, Goyal said that with the purchase of Rafale fighter jets and the recent Airbus order, more value has been added to this partnership.
According to the Ministry of Commerce and Industry, Goyal “highlighted that India is looking to buy 2000 Commercial Aircrafts in the next 10 years and there is a huge opportunity to make commercial aircraft in India to meet domestic and international demand”.
During the meeting, the ministers discussed priority areas related to India – EU FTA negotiations where issues related to Market Access were deliberated. Additionally, they discussed mutual topics of interest at the World Trade Organisation.
Goyal also addressed the India-French Business Conference and CEOs Roundtable held in Paris on Tuesday. Expressing happiness at its continuing growth trajectory, he said that he expects India’s exports of goods and services to touch USD 3 trillion by 2030.
“We are one the largest consumers of goods and services. Exports of goods and services are growing by over 50% and we hope to continue this growth trajectory. We hope to see our exports of goods and services to triple from $765 billion to $2 trillion by 2030,” Goyal said.
The event was organized by the Embassy of India in Paris, in association with the Confederation of Indian Industry (CII), the Mouvement des Entreprises de France (MEDEF), and the Indo-French Chamber of Commerce and Industry (IFCCI).
French Minister Becht expressed his confidence in the potential for collaboration between the two countries, given India’s status as the world’s most populous country and the untapped potential for manufacturing activities.
CII Vice-President Sanjiv Puri said that the presence of a sizable CII delegation at the summit demonstrated the significance India has on its relationship with France.
DG CII Chandrajit Banerjee emphasized India and France’s commitment to working together in areas including innovation, financial inclusion, Sustainability in enterprises, and strengthening global engagement with Africa.
The summit included sessions on topics such as ‘Building a green future,’ ‘Critical and Emerging Technologies: The New Strategic Frontier,’ ‘Defence Cooperation: Securing a Shared Future Through Atmanirbhar Bharat,’ and ‘France and India: Springboard to Europe and Indo-Pacific.’
