New Delhi [India], October 5 (ANI): France will be a “big driver” and supporter of the India-European Union trade deal and will push to deepen its economic content, including cooperation in energy, French Minister Delegate for European Affairs Benjamin Haddad said, highlighting the pact's potential to accelerate investment and strengthen supply chains.
“You will see France be a big driver and a big supporter of this trade deal with the European Union and how we can put more content and substance into it,” Haddad told ANI on the sidelines of the Munich Heads Meeting.
He said the agreement could also help expand trade between India and the EU while supporting investment across sectors such as artificial intelligence, space, healthcare and defence.
The deal could eliminate 4 billion euros a year in trade tariffs and has the potential to double trade between the European Union and India, Haddad said.
“If you look at all the sectors they mentioned, you know whether that's AI or space or health, you need investment. You need scale. You need capital to be able to grow and not just be a passive bystander of the relationship and the rivalry between the United States and China,” he said.
Haddad said France's existing economic presence in India could also provide a base for expanding the partnership. He said French companies in India account for around half a million jobs and include 700 companies.
He said the broader strategic partnership should focus on resilient supply chains and cooperation in areas where India and Europe have common interests.
“Look at what we can do in resilient supply chains whether that's on the AI, on defense, in space, on health care, on innovation is clearly of a mutual interest for both sides,” Haddad said.
Energy could emerge as another area where the trade agreement helps accelerate cooperation, particularly amid volatility in fossil fuel prices and geopolitical disruptions.
“Look at you know the rising price in fossil fuels. Look at the impact the geopolitical crisis in the Middle East having on prices. So I think if we want to be able to diversify and de-risk if we want to be able to build IMEC also with India this trade deal can also be an accelerator,” he said.
Haddad said France and India have been strategic partners for 30 years and share an interest in predictable, rules-based economic relations. He said deeper EU-India ties could help build more resilient supply chains and expand cooperation in technology, defence, space and healthcare.
The agreement, he added, should therefore be used not only to reduce tariffs but also to add “content and substance” to the broader India-EU relationship. (ANI)
France to be 'big driver' of India-EU trade deal, push cooperation in AI, space, healthcare, energy: Benjamin Haddad
