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Hindustan Times
25-07-2025
- Business
- Hindustan Times
India secures freer access to UK market in landmark deal
Indian professionals will gain freer access to the UK and British exporters secure easier entry to India's vast market through dramatic tariff cuts under a comprehensive trade deal signed between Prime Minister Narendra Modi and his UK counterpart Keir Starmer on Thursday, hailed by both as a landmark partnership for shared prosperity. Jonathan Reynolds, UK business and trade secretary, Narendra Modi, India's prime minister, Keir Starmer, UK prime minister, and Piyush Goyal, India's commerce and industry secretary, left to right, during a news conference after signing a free trade agreement at Chequers near Aylesbury, UK, on Thursday. (Bloomberg) The pact will boost two-way commerce by $35 billion in the long run and the two sides also unveiled plans to negotiate a Double Contribution Convention (DCC) that exempts employers of Indian workers from paying social security contributions in the UK for three years in what is expected to particularly help finance and technology sector workers. They will also work on a Defence Industrial Roadmap for closer cooperation on military hardware. The DCC will come into force alongside the trade deal. In London, Modi described the deal as 'not just an economic partnership, but a plan for shared prosperity' that will benefit India's youth, farmers, fishermen and MSME sector. Starmer said the agreement is the 'biggest and most economically significant trade deal' concluded by the UK since leaving the European Union (EU) in 2020 and also 'one of the most comprehensive deals' by India. India and Britain finalised the Comprehensive Economic and Trade Agreement in May after more than three years of negotiations, and the pact was signed by commerce minister Piyush Goyal and his UK counterpart Jonathan Reynolds during Modi's visit to Britain. With the economic turmoil unleashed by US President Donald Trump's tariffs as the backdrop, both sides overcame long-standing differences on issues such as levies on British alcohol and automobiles, which are set to drop. Duties on British whisky imports drop from 150% to 75% immediately, falling to 40% over 10 years. UK automotive exports will see tariffs reduced from up to 110% to 10% under quota arrangements. The gains for both sides, however, are much broader with the UK eliminating tariffs on 99% of Indian exports (up from roughly 65% that previously enjoyed zero or near-zero duties). Speaking at a media interaction with Starmer, Modi said: 'On the one hand, Indian textiles, footwear, gems and jewellery, seafood and engineering goods will get better market access in the UK. New opportunities will be created in the UK market for India's agricultural produce and processed food industry.' He added, 'On the other hand, products made in the UK, such as medical devices and aerospace parts, will be available to the people and industry of India at accessible and affordable rates.' The DCC, Modi said, will give new energy to the services sectors of both sides by boosting the ease of doing business. 'Along with this, the UK economy will get Indian skilled talent,' he said. He added that the deal between two democratic countries and major economies will strengthen global stability and prosperity. Starmer said that apart from benefiting whisky distillers in Scotland and the services sector in London, Manchester and Leeds, the deal will bring down prices on Indian goods such as clothes, shoes and food. 'It will add about £4.8 billion to the UK economy every year and £2.2 billion to wages and hundreds of millions of pounds to regions and nations up and down the UK,' he added. The India-UK Vision 2035, aimed at renewing the bilateral comprehensive strategic partnership, will serve as a roadmap for a reliable partnership in technology, defence, climate, education and people-to-people connect, Modi said. The two sides will also work to strengthen their Technology Security Initiative, launched a year ago to drive cooperation in telecom, critical minerals, IA, semiconductors, quantum computing and biotech. Key beneficiaries of the deal announced on Thursday include India's textiles and clothing sector, where complete tariff elimination from the current 12% level will enhance competitiveness against Bangladesh and Vietnam. Processed food exporters will see duties fall from as high as 70% to zero on 99.7% of tariff lines, while marine products will enjoy zero duties down from 20%. In the services sector, Indian service providers are expected to benefit from opportunities in the UK, especially in management consultancy, computer-related services and education services. The deal also eases mobility for Indian professionals, including contractual service suppliers working on projects in the UK, yoga instructors and chefs. 'Along with this, the UK economy will get Indian skilled talent,' Modi added. The inclusion of a first-of-its-kind trade and gender chapter in the trade deal is aimed at empowering Indian women and ensuring gender inclusion, with targeted support for women-led enterprises and workers. The FTA excludes India's most sensitive agricultural segments, with no tariff concessions on dairy products, apples, oats and edible oils. These exclusions, the officials said, reflect India's calibrated trade strategy that prioritises food security, domestic price stability and protection of vulnerable farmers. The deal's sanitary and phytosanitary (SPS) measures will help Indian exporters meet British standards and reduce rejections, the officials said. In return, India has reduced average tariffs on UK exports from 15% to 3%. 'Products made in the UK, such as medical devices and aerospace parts, will be available to the people and industry of India at accessible and affordable rates,' Modi said. India-UK trade in goods and services was worth $57.8 billion in 2024, an increase of 8.3% from 2023, with India ranking as Britain's 11th largest trading partner. India's imports from the UK amounted to £17.1 billion while exports to the UK were worth £25.5 billion. Total bilateral trade in goods was worth £17.8 billion, while services trade amounted to £24.8 billion, with India accounting for 2.4% of the UK's total trade. The deal is projected to see India's agricultural exports rise by 20% in the next three years. Officials said the benefits for Indian farmers in UK markets will match or exceed those enjoyed by exporters from Germany, the Netherlands and other EU members. 'This agreement establishes a modern, forward-looking partnership that will stimulate innovation, ease market access and foster investment,' said Sunil Bharti Mittal, chairman of Bharti Enterprises and co-chair of the India-UK CEO Forum, who led a 16-member Indian business delegation.
Hindustan Times
24-07-2025
- Business
- Hindustan Times
India, Britain seal trade deal to bring down tariffs, barriers; keep dairy out
NEW DELHI: India and Britain on Thursday signed a trade deal that is expected to boost two-way commerce by $35 billion in the long run, cut tariffs on goods ranging from textiles to whisky and enhance market access, as Prime Minister Narendra Modi and his UK counterpart Keir Starmer unveiled the Vision 2035 strategy to drive collaboration in defence, technology, climate and migration. Britain's Prime Minister Keir Starmer and Prime Minister Narendra Modi shake hands after Britain's secretary of state for business and trade, Jonathan Reynolds and India's commerce minister Piyush Goyal, signed a free trade agreement at Chequers near Aylesbury, England on July 24 (via REUTERS) The two sides also unveiled plans to negotiate a Double Contribution Convention (DCC) to give a fillip to the services sector, especially finance and technology, by exempting employers of Indian workers from paying social security contributions in the UK for three years, and a Defence Industrial Roadmap for closer cooperation on military hardware. The DCC will come into force alongside the trade deal. India and Britain finalised the Comprehensive Economic and Trade Agreement in May after more than three years of negotiations, and the pact was signed by commerce minister Piyush Goyal and his UK counterpart Jonathan Reynolds during Modi's visit to Britain. The two sides gave a push to the negotiations amid economic turmoil unleashed by US President Donald Trump's tariff policies to overcome long-standing differences on issues such as levies on British alcohol and automobiles, and access to India's markets. Modi described the deal as 'not just an economic partnership, but a plan for shared prosperity' that will benefit India's youth, farmers, fishermen and MSME sector. Starmer said the agreement is the 'biggest and most economically significant trade deal' concluded by the UK since leaving the European Union (EU) in 2020 and also 'one of the most comprehensive deals' by India. Speaking at a media interaction with Starmer, Modi said: 'On the one hand, Indian textiles, footwear, gems and jewellery, seafood and engineering goods will get better market access in the UK. New opportunities will be created in the UK market for India's agricultural produce and processed food industry.' He added, 'On the other hand, products made in the UK, such as medical devices and aerospace parts, will be available to the people and industry of India at accessible and affordable rates.' The DCC, Modi said, will give new energy to the services sectors of both sides by boosting the ease of doing business. 'Along with this, the UK economy will get Indian skilled talent,' he said. He added that the deal between two democratic countries and major economies will strengthen global stability and prosperity. Starmer said that, apart from benefiting whisky distillers in Scotland and the services sector in London, Manchester, and Leeds, the deal will lower prices on Indian goods, including clothes, shoes, and food. 'It will add about £4.8 billion to the UK economy every year and £2.2 billion to wages and hundreds of millions of pounds to regions and nations up and down the UK,' he added. The India-UK Vision 2035, aimed at renewing the bilateral comprehensive strategic partnership, will serve as a roadmap for a reliable partnership in technology, defence, climate, education, and people-to-people connect, Modi said. The two sides will also work to strengthen their Technology Security Initiative, launched a year ago to drive cooperation in telecom, critical minerals, IA, semiconductors, quantum computing and biotech. The trade deal provides near-complete tariff elimination for 99% of Indian exports, unlocking opportunities for labour-intensive sectors, processed food items and other high-tariff segments where India has a competitive edge. For instance, duties on 99.7% of tariff lines for processed food items will fall from as high as 70% to zero, and for animal products, from the range of 20% to zero for 99.3% of tariff lines. Other sectors where duties will be cut to zero are marine products (20%), transport and automobiles (18%) leather and footwear (16%), electrical machinery (14%), and aluminium (10%). The elimination of tariffs on textiles and clothing, from the current level of 12%, will enhance India's competitiveness against players such as Bangladesh and Vietnam and boost exports of value-added garments. Exporters of seafood, dairy and meat products are expected to benefit from the cut in levies on animal and marine products. In addition to cutting tariffs, the deal will streamline trade protocols and ensure protection for India's agricultural sector, which is the cornerstone of rural livelihoods and economic security, officials said. The benefits for Indian farmers in UK markets will match or exceed those enjoyed by exporters from Germany, the Netherlands and other EU members, and agricultural exports are forecast to rise by 20% in the next three years, they said. The FTA excludes India's most sensitive agricultural segments, with no tariff concessions on dairy products, apples, oats and edible oils. These exclusions, the officials said, reflect India's calibrated trade strategy that prioritises food security, domestic price stability and protection of vulnerable farmers. The deal's sanitary and phytosanitary (SPS) measures will help Indian exporters meet British standards and reduce rejections, the officials said. In the services sector, Indian service providers are expected to benefit from opportunities in the UK, especially in management consultancy, computer-related services and education services. The deal also eases mobility for Indian professionals, including contractual service suppliers working on projects in the UK, yoga instructors and chefs. The inclusion of a first-of-its-kind trade and gender chapter in the trade deal aims to empower Indian women and ensure gender inclusion, with targeted support for women-led enterprises and workers. India-UK trade in goods and services was worth $57.8 billion (£42.6 billion) in January-December 2024, representing an 8.3% increase from 2023. India's imports from the UK totalled £17.1 billion, while its exports to the UK were worth £25.5 billion. Total bilateral trade in goods was worth £17.8 billion in 2024, while total bilateral trade in services amounted to £24.8 billion. India was Britain's 11th largest trading partner in this period, accounting for 2.4% of the UK's total trade. India's key exports to Britain include textiles, apparel and clothing accessories, pharmaceutical products, telecom and sound equipment, refined oil, electrical and electronic equipment, machinery appliances, iron and steel, and gems and jewellery. India's main imports from the UK are non-ferrous metals, metal ores and scrap, industrial machinery, transport equipment, beverages and tobacco, electrical machinery and appliances, professional and scientific instruments, and chemicals. Sunil Bharti Mittal, chairman of Bharti Enterprises and co-chair of the India-UK CEO Forum, who is heading a delegation of 16 Indian business leaders accompanying the Prime Minister, said Indian industry welcomed the trade deal with 'great optimism'. The business delegation was organised by the Confederation of Indian Industry (CII). 'This agreement establishes a modern, forward-looking partnership that will stimulate innovation, ease market access and foster investment. Businesses in India as well as the UK stand to gain tremendously, as it lays the groundwork for scaling up bilateral cooperation across key growth sectors,' Mittal said. The Federation of Indian Chambers of Commerce and Industry (FICCI) also welcomed the trade deal, with its president, Harsha Vardhan Agarwal, stating that it marked a key milestone in India's evolving trade architecture. 'It complements the objectives of Atmanirbhar Bharat by empowering domestic industries to scale globally, engage competitively, and leverage value chains more effectively,' he said. Tufan Erginbilgic, the CEO of Rolls-Royce Plc, hailed the free trade agreement as a landmark in bilateral cooperation. 'We welcome the new UK-India roadmap for closer collaboration on defence, technology and innovation. Rolls-Royce is growing its aerospace capabilities in India, and we look forward to working with Indian partners to co-develop power and propulsion technologies for India and the world,' he said.
Zawya
14-02-2025
- Politics
- Zawya
PM Modi, President Macron launch India-France Roadmap on Artificial Intelligence
Paris: India and France signed a declaration of Intent on establishing a partnership on Advanced Modular Reactors and Small Modular Reactors, with Prime Minister Narendra Modi and President Emmanuel Macron also launching an India-France Roadmap on Artificial Intelligence (AI). The joint statement released at the conclusion of PM Modi's visit to France said the two leaders reiterated their call for reformed and effective multilateralism to sustain an equitable and peaceful international order, address pressing global challenges, and prepare the world for emerging developments, including in the technological and economic domains. The two leaders stressed the urgent need for reforming the United Nations Security Council and agreed to coordinate closely in multilateral forums, including on UNSC matters. France reiterated its firm support for India's permanent membership of the UNSC. The two leaders agreed to strengthen conversations on regulation of use of the veto in case of mass atrocities. They held extensive discussions on long-term global challenges and current international developments and agreed to intensify their global and regional engagement, including through multilateral initiatives and institutions. Acknowledging the paramount importance of advancing scientific knowledge, research and innovation, and recalling the long and enduring engagement between India and France in those areas, President Macron and Prime Minister Modi announced the grand inauguration of the India-France Year of Innovation in New Delhi in March 2026 by launching its Logo. Recalling the deep and longstanding defence cooperation between France and India as part of the Strategic Partnership, President Macron and PM Modi welcomed the continuation of the cooperation of air and maritime assets in line with the ambitious Defence Industrial Roadmap agreed in 2024. Both leaders commended progress in collaboration in construction of Scorpene submarines in India, including indigenization, and in particular the work carried out with a view to the integration of DRDO developed Air Independent Propulsion (AIP) into P75-Scorpene submarines and the analyses conducted regarding the possible integration of the Integrated Combat System (ICS) into the future P75-AS submarines. Both leaders welcomed the commissioning of the sixth and final submarine of the P75 Scorpene-class project, INS Vaghsheer in January this year. Both sides welcomed the ongoing discussions in missiles, helicopter engines and jet engines. They also welcomed the excellent cooperation between the relevant entities in the Safran group and their Indian counterparts. Prime Minister Modi also invited the French Army to take a closer look at the Pinaka MBLR, emphasizing that an acquisition of this system by France would be another milestone in Indo-French defence ties. In addition, President Macron welcomed the decision to include India as an observer to the Eurodrone MALE programme managed by OCCAR, which is another step forward in the growing strength of partnership in defence equipment programmes. The two leaders welcomed the launch of FRIND-X (France-India Defence Startup Excellence) in Paris on 5-6 December 2024, involving the DGA and the Defence Innovation Agency, in line with the vision enshrined in HORIZON 2047 and the India-France Defence Industrial Roadmap. This collaborative platform brings together key stakeholders across both defence ecosystems, including defence startups, investors, incubators, accelerators, and academia, fostering a new era of defence innovation and partnership. In order to deepen the research and development partnerships in defence, both leaders stressed on the early launch of an R&D framework through a Technical Arrangement for cooperation in defence technologies between DGA and DRDO. In addition, both leaders welcomed the ongoing discussions between L'Office National d'Etudes et de Recherches Aerospatiales (ONERA) and Defence Research and Development Organisation (DRDO) to identify technologies for R&D partnerships. India welcomed the participation of Indian students, alongside French students, in the challenge on distributed intelligence launched recently by Interdisciplinary Center for Defence and Security from the Institut Polytechnique de Paris and encouraged organizing of more joint challenges in the future to evoke the interest of students in defence. Both leaders had a detailed conversation on international issues, including on the Middle-East and the war in Ukraine. They agreed to pursue their efforts to coordinate and remain closely engaged on a regular basis. The two leaders recalled the launch of the India-Middle East-Europe Corridor (IMEC) on the margins of the G20 Summit in Delhi in September 2023 and agreed to work together more closely on implementing the initiative. Both leaders stressed the importance of IMEC to foster connectivity, sustainable growth trajectories and access to clean energy across these regions. In this regard, they acknowledged the strategic location of Marseille in the Mediterranean Sea. They underlined the key importance of strengthening EU-India relations, in view of the upcoming India-EU summit at the earliest possible in New Delhi. They appreciated the growing cooperation in trilateral format with Australia and with the United Arab Emirates. They commended the joint military exercises that took place between France, India and the United Arab Emirates, as well as the participation of India, France and Australia in each others' multilateral military exercises. At the invitation of the United Arab Emirates and India, France joined the Mangrove Alliance for Climate. The two leaders underlined their common commitment to a free, open, inclusive, secure and peaceful Indo-Pacific region. They reiterated their desire to continue to deepen bilateral cooperation in the space sector. They commended the strength of the partnership between CNES and ISRO and supported the development of collaborations and synergies between their space industries. The two leaders reaffirmed their unequivocal condemnation of terrorism in all its forms and manifestations, including cross-border terrorism. They called for the disruption of terrorism financing networks and safe havens. They further agreed that no country should provide safe haven to those who finance, plan, support, or commit terrorist acts. The leaders also called for concerted action against all terrorists, including through designations of individuals affiliated with groups that are listed by the UN Security Council 1267 Sanctions Committee. The two sides emphasized the importance of upholding international standards on anti-money laundering and combating the financing of terrorism, consistent with Financial Action Task Force recommendations. Both countries reiterated their commitment to work together in FATF, No Money For Terror (NMFT) and other multilateral platforms. They commended the cooperation between the National Security Guard (NSG) of India and the Groupe d'Intervention de la Gendarmerie Nationale (GIGN) for agency-level cooperation in the field of counter-terrorism. The two leaders also looked forward to the successful organization of Milipol 2025 in New Delhi. They welcomed the ongoing discussions to create a comprehensive framework for an enhanced bilateral cooperation in the civil aviation sector, which are at advanced stages. Prime Minister Modi and President Macron launched an India-France Roadmap on Artificial Intelligence (AI), rooted in the philosophical convergence in their approaches focusing on the development of safe, open, secure and trustworthy artificial intelligence. They welcomed the inclusion of Indian startups at the French Startup Incubator Station F. They also welcomed the expanded possibilities for using India's real-time payment system - Unified Payments Interface (UPI) - in France. The two leaders reiterated the strategic significance of cyberspace and their wish to strengthen their coordination at the United Nations regarding the application of international law and the implementation of the framework for responsible State behaviour in cyberspace, as well as the need to address issues arising from the proliferation of malicious cyber tools and practices. Prime Minister Modi and President Macron stressed that nuclear energy is an essential part of the energFy mix for strengthening energy security and transitioning towards a low-carbon economy. Both leaders acknowledged the India-France civil nuclear ties and efforts in cooperation on the peaceful uses of nuclear energy, notably in relation with the Jaitapur Nuclear Power Plant Project. They welcomed the first meeting of the Special Task Force on Civil Nuclear Energy, and welcomed the signing of a letter of intent on Small Modular Reactor (SMR) and Advanced Modular Reactor (AMR) and the Implementing Agreement between India's GCNEP, DAE and France's INSTN, CEA for cooperation in training and education of nuclear professionals. The two leaders reaffirmed their countries' commitment to jointly address the environmental crises and challenges including climate change and promoting sustainable lifestyles. The leaders welcomed the renewal of bilateral cooperation in the field of environment between the Ministries of Environment. Both leaders reiterated their commitment to the principles established by the Paris Pact for People and the Planet for reform of the international financing system towards supporting vulnerable countries in addressing both the eradication of poverty and the preservation of the planet. Both leaders affirmed the significance of United Nations Oceans Conference (UNOC-3) as an important milestone in international efforts towards conservation and sustainable use of oceans. Prime Minister Modi offered India's support to France for UNOC-3 in June 2025. The two leaders welcome the partnership between Proparco and the concerned Indian microfinance institutions for an equity agreement of 13 million Euros in the areas of financial inclusion and women empowerment. They also commended the strong and fruitful cooperation within the framework of the Franco Indian presidency of the Coalition for Disaster Resilient Infrastructure and the International Solar Alliance. They lauded the launching of the India-France Indo-Pacific Triangular Development Cooperation, aiming to support climate- and SDG-focused projects from third countries in the Indo-Pacific region. Noting the record level of bilateral trade in 2024, they acknowledged that there is vast untapped potential for trade and investment between the two countries. Both leaders highlighted the need to maintain strong confidence for companies investing in France and in India. Prime Minister Modi congratulated President Macron on the successful organization of the Paris Olympics and Paralympics 2024 and thanked President Macron's willingness to share France's experience and expertise regarding the organization and securing of major international sporting events in the context of India's bid to host the Olympics and Paralympics Games in 2036. Both Leaders welcomed the launch of a regional edition of the Raisina Dialogue focusing on Mediterranean issues in Marseille in 2025, to foster high-level dialogue involving representatives of governments, industry leaders, experts on trade and connectivity issues and other relevant stakeholders with an aim to enhance trade and connectivity between the Mediterranean and the Indo-Pacific regions. Both leaders welcomed the successful launch in September 2024 of the International Classes Scheme under which Indian students are taught French as a foreign language, and methodology and academic contents in highly reputed French universities in France during one academic year, before entering their chosen curricula in France. It will create conducive conditions to increase student mobility and meet the target of 30,000 Indian students in France by 2030. In that regard, they welcomed the rising number of Indian students in France, with 2025 figures expected to reach an unprecedented 10,000. To foster their dynamic and comprehensive Strategic Partnership, both countries committed to constantly deepen their long-term cooperation following the ambitions expressed in the bilateral Horizon 2047 Roadmap.
Times of Oman
13-02-2025
- Politics
- Times of Oman
PM Modi, President Macron launch India-France Roadmap on Artificial Intelligence
Paris: India and France signed a declaration of Intent on establishing a partnership on Advanced Modular Reactors and Small Modular Reactors, with Prime Minister Narendra Modi and President Emmanuel Macron also launching an India-France Roadmap on Artificial Intelligence (AI). The joint statement released at the conclusion of PM Modi's visit to France said the two leaders reiterated their call for reformed and effective multilateralism to sustain an equitable and peaceful international order, address pressing global challenges, and prepare the world for emerging developments, including in the technological and economic domains. The two leaders stressed the urgent need for reforming the United Nations Security Council and agreed to coordinate closely in multilateral forums, including on UNSC matters. France reiterated its firm support for India's permanent membership of the UNSC. The two leaders agreed to strengthen conversations on regulation of use of the veto in case of mass atrocities. They held extensive discussions on long-term global challenges and current international developments and agreed to intensify their global and regional engagement, including through multilateral initiatives and institutions. Acknowledging the paramount importance of advancing scientific knowledge, research and innovation, and recalling the long and enduring engagement between India and France in those areas, President Macron and Prime Minister Modi announced the grand inauguration of the India-France Year of Innovation in New Delhi in March 2026 by launching its Logo. Recalling the deep and longstanding defence cooperation between France and India as part of the Strategic Partnership, President Macron and PM Modi welcomed the continuation of the cooperation of air and maritime assets in line with the ambitious Defence Industrial Roadmap agreed in 2024. Both leaders commended progress in collaboration in construction of Scorpene submarines in India, including indigenization, and in particular the work carried out with a view to the integration of DRDO developed Air Independent Propulsion (AIP) into P75-Scorpene submarines and the analyses conducted regarding the possible integration of the Integrated Combat System (ICS) into the future P75-AS submarines. Both leaders welcomed the commissioning of the sixth and final submarine of the P75 Scorpene-class project, INS Vaghsheer in January this year. Both sides welcomed the ongoing discussions in missiles, helicopter engines and jet engines. They also welcomed the excellent cooperation between the relevant entities in the Safran group and their Indian counterparts. Prime Minister Modi also invited the French Army to take a closer look at the Pinaka MBLR, emphasizing that an acquisition of this system by France would be another milestone in Indo-French defence ties. In addition, President Macron welcomed the decision to include India as an observer to the Eurodrone MALE programme managed by OCCAR, which is another step forward in the growing strength of partnership in defence equipment programmes. The two leaders welcomed the launch of FRIND-X (France-India Defence Startup Excellence) in Paris on 5-6 December 2024, involving the DGA and the Defence Innovation Agency, in line with the vision enshrined in HORIZON 2047 and the India-France Defence Industrial Roadmap. This collaborative platform brings together key stakeholders across both defence ecosystems, including defence startups, investors, incubators, accelerators, and academia, fostering a new era of defence innovation and partnership. In order to deepen the research and development partnerships in defence, both leaders stressed on the early launch of an R&D framework through a Technical Arrangement for cooperation in defence technologies between DGA and DRDO. In addition, both leaders welcomed the ongoing discussions between L'Office National d'Etudes et de Recherches Aerospatiales (ONERA) and Defence Research and Development Organisation (DRDO) to identify technologies for R&D partnerships. India welcomed the participation of Indian students, alongside French students, in the challenge on distributed intelligence launched recently by Interdisciplinary Center for Defence and Security from the Institut Polytechnique de Paris and encouraged organizing of more joint challenges in the future to evoke the interest of students in defence. Both leaders had a detailed conversation on international issues, including on the Middle-East and the war in Ukraine. They agreed to pursue their efforts to coordinate and remain closely engaged on a regular basis. The two leaders recalled the launch of the India-Middle East-Europe Corridor (IMEC) on the margins of the G20 Summit in Delhi in September 2023 and agreed to work together more closely on implementing the initiative. Both leaders stressed the importance of IMEC to foster connectivity, sustainable growth trajectories and access to clean energy across these regions. In this regard, they acknowledged the strategic location of Marseille in the Mediterranean Sea. They underlined the key importance of strengthening EU-India relations, in view of the upcoming India-EU summit at the earliest possible in New Delhi. They appreciated the growing cooperation in trilateral format with Australia and with the United Arab Emirates. They commended the joint military exercises that took place between France, India and the United Arab Emirates, as well as the participation of India, France and Australia in each others' multilateral military exercises. At the invitation of the United Arab Emirates and India, France joined the Mangrove Alliance for Climate. The two leaders underlined their common commitment to a free, open, inclusive, secure and peaceful Indo-Pacific region. They reiterated their desire to continue to deepen bilateral cooperation in the space sector. They commended the strength of the partnership between CNES and ISRO and supported the development of collaborations and synergies between their space industries. The two leaders reaffirmed their unequivocal condemnation of terrorism in all its forms and manifestations, including cross-border terrorism. They called for the disruption of terrorism financing networks and safe havens. They further agreed that no country should provide safe haven to those who finance, plan, support, or commit terrorist acts. The leaders also called for concerted action against all terrorists, including through designations of individuals affiliated with groups that are listed by the UN Security Council 1267 Sanctions Committee. The two sides emphasized the importance of upholding international standards on anti-money laundering and combating the financing of terrorism, consistent with Financial Action Task Force recommendations. Both countries reiterated their commitment to work together in FATF, No Money For Terror (NMFT) and other multilateral platforms. They commended the cooperation between the National Security Guard (NSG) of India and the Groupe d'Intervention de la Gendarmerie Nationale (GIGN) for agency-level cooperation in the field of counter-terrorism. The two leaders also looked forward to the successful organization of Milipol 2025 in New Delhi. They welcomed the ongoing discussions to create a comprehensive framework for an enhanced bilateral cooperation in the civil aviation sector, which are at advanced stages. Prime Minister Modi and President Macron launched an India-France Roadmap on Artificial Intelligence (AI), rooted in the philosophical convergence in their approaches focusing on the development of safe, open, secure and trustworthy artificial intelligence. They welcomed the inclusion of Indian startups at the French Startup Incubator Station F. They also welcomed the expanded possibilities for using India's real-time payment system - Unified Payments Interface (UPI) - in France. The two leaders reiterated the strategic significance of cyberspace and their wish to strengthen their coordination at the United Nations regarding the application of international law and the implementation of the framework for responsible State behaviour in cyberspace, as well as the need to address issues arising from the proliferation of malicious cyber tools and practices. Prime Minister Modi and President Macron stressed that nuclear energy is an essential part of the energFy mix for strengthening energy security and transitioning towards a low-carbon economy. Both leaders acknowledged the India-France civil nuclear ties and efforts in cooperation on the peaceful uses of nuclear energy, notably in relation with the Jaitapur Nuclear Power Plant Project. They welcomed the first meeting of the Special Task Force on Civil Nuclear Energy, and welcomed the signing of a letter of intent on Small Modular Reactor (SMR) and Advanced Modular Reactor (AMR) and the Implementing Agreement between India's GCNEP, DAE and France's INSTN, CEA for cooperation in training and education of nuclear professionals. The two leaders reaffirmed their countries' commitment to jointly address the environmental crises and challenges including climate change and promoting sustainable lifestyles. The leaders welcomed the renewal of bilateral cooperation in the field of environment between the Ministries of Environment. Both leaders reiterated their commitment to the principles established by the Paris Pact for People and the Planet for reform of the international financing system towards supporting vulnerable countries in addressing both the eradication of poverty and the preservation of the planet. Both leaders affirmed the significance of United Nations Oceans Conference (UNOC-3) as an important milestone in international efforts towards conservation and sustainable use of oceans. Prime Minister Modi offered India's support to France for UNOC-3 in June 2025. The two leaders welcome the partnership between Proparco and the concerned Indian microfinance institutions for an equity agreement of 13 million Euros in the areas of financial inclusion and women empowerment. They also commended the strong and fruitful cooperation within the framework of the Franco Indian presidency of the Coalition for Disaster Resilient Infrastructure and the International Solar Alliance. They lauded the launching of the India-France Indo-Pacific Triangular Development Cooperation, aiming to support climate- and SDG-focused projects from third countries in the Indo-Pacific region. Noting the record level of bilateral trade in 2024, they acknowledged that there is vast untapped potential for trade and investment between the two countries. Both leaders highlighted the need to maintain strong confidence for companies investing in France and in India. Prime Minister Modi congratulated President Macron on the successful organization of the Paris Olympics and Paralympics 2024 and thanked President Macron's willingness to share France's experience and expertise regarding the organization and securing of major international sporting events in the context of India's bid to host the Olympics and Paralympics Games in 2036. Both Leaders welcomed the launch of a regional edition of the Raisina Dialogue focusing on Mediterranean issues in Marseille in 2025, to foster high-level dialogue involving representatives of governments, industry leaders, experts on trade and connectivity issues and other relevant stakeholders with an aim to enhance trade and connectivity between the Mediterranean and the Indo-Pacific regions. Both leaders welcomed the successful launch in September 2024 of the International Classes Scheme under which Indian students are taught French as a foreign language, and methodology and academic contents in highly reputed French universities in France during one academic year, before entering their chosen curricula in France. It will create conducive conditions to increase student mobility and meet the target of 30,000 Indian students in France by 2030. In that regard, they welcomed the rising number of Indian students in France, with 2025 figures expected to reach an unprecedented 10,000.
