Indo-French bilateral trade to reach 8 bln euros by 2010

New Delhi, Nov 10 (UNI) The bilateral trade between France and India is likely to reach eight billion euros by year 2010 from the current four billion euros, fuelled by the growth in small and medium enterprises.

''Indo-French two-way trade has seen a growth of 26 per cent per annum with France holding a 1.9 per cent market share in the total trade in India,'' French Ambassador to India Dominique Girard told reporters here today.

French exports to India accounted for two billion euros last year comprising mainly of textiles, farm and marine products, chemicals, metals and gems and jewellery and is rising at a rate of 45 per cent every year, Mr Girard added.

While, India imports goods worth 1.8 billion euros, mainly machinery, transport equipment and iron and steel, Mr Girard said French firms were planning major investments in India's IT, pharmaceuticals, agri-business, nuclear energy, space technology, infrastructure, automobiles sectors.

The two countries had set a target of doubling trade in five years during French President Jacques Chirac's India visit in February.

While announcing a four-day Indo-French Business Summit that will start from December 4, 2006 here, Mr Girard said over 900 Indian and 150 French SMEs would participate in the event.

In view of French Foreign Trade Minister Christine Lagarde's annoncement last month that it will bring 500 multi-sector French SMEs into India by 2008, the summit can prove to be the first step towards this.

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