Paris, 3 June (IANS). Union Commerce Minister Piyush Goyal said on Tuesday that India and France should work to strengthen bilateral economic relations, as there is enough scope to increase the trade between the two countries from the current $ 15 billion levels.
At the India-France CEO Forum, Union Minister Goyal said that both countries should work towards intensive cooperation in emerging and strategic fields.
Union Minister Goyal said, “We cannot be satisfied with only $ 15 billion. Because its scope is much more.”
He suggested creating a joint work group in the private sector under the CEO Forum to find out the possibilities of cooperation in Artificial Intelligence, Tourism, Manufacturing and Global Property Centers.
Union Minister Goyal also announced that India and France would activate a fast-track mechanism at the level to help businesses in removing trade and regulatory obstacles.
“This will help us support each other in finding new areas of business and crossing the scope of regulation,” he said.
He said that Indian businesses are often confused with the complex regulatory environment of the European Union.
Union Minister Goyal said, “This is a confusion, especially when each European Union member country has its own rules.”
The Union Minister again confirmed that India and the European Union are committed to completing a comprehensive trade agreement before the end of 2025.
He also held a meeting with Singapore Deputy Prime Minister Gaan Kim Yong and discussed ways to promote economic relations and big opportunities in the Indian shipping sector.
Union Minister Goyal has also planned to hold bilateral meetings in Paris with Britain’s Business and Trade Secretary Jonathan Reynolds and Saudi Arabia’s Commerce Minister Dr. Majid bin Abdullah al-Kasabi. Piyush Goyal is on an official visit to France and Italy, which reflects India’s continuous commitment to deepen strategic and economic relations with major European partners. Also, Union Minister Goyal’s visit focuses on advancing a common approach to a strong and inclusive global development.
-IANS
SKT/GKT
