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France is ranked fifth in the list of India’s trading partners among the European Union (EU) countries. Indo-French bilateral trade has been growing over the years.
Bilateral trade between India and France during 2003-04 stood at US $ 2344.35 million (i.e., US $ 2.3 billion). Of this, India’s exports to France amounted to US $ 1289.80 million (i.e., US $ 1.28 billion) and India’s imports from France were valued at US $ 1054.55 million (i.e., US $ 1.05 billion). During 2003-04, India’s exports to France grew by 20%, while imports from France declined by about 4 %. During the current year April-July, 2004 both exports to and imports from France are on the rise.
During 2003-04, 2.03 % of India’s global exports went to France and 1.37% of India’s global imports were sourced from France.
India’s share in France’s global imports is 0.45 %. India’s share in France’s global exports is 0.30 %. India’s share in France’s global trade is 0.38%.
India’s five major export commodities to France are ready-made garments (RMG) cotton including accessories, cotton yarn/fabrics/made-ups, petroleum products, ready-made garments of man made fibres and transport equipments.
India’s five major imports from France are of machinery, electronic goods, transport equipments, project goods and iron and steel.
The items with potential for increasing exports from India to France are engineering goods, turbo jets, textiles, gems and jewellery, footwear, vehicles, optical/medical instruments, pharmaceutical products, furniture etc.
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