India, France to boost cooperation in critical minerals, economic sovereignty

Paris/New Delhi, July 3 (IANS) India and France on Friday discussed potential areas for greater bilateral cooperation in critical minerals, economic sovereignty and security policies, and further enhance the financial industries connect between both the nations.

Finance Minister Nirmala Sitharaman and Roland Lescure, Minister of Economy, Finance, Industrial, Energy, and Digital Sovereignty of France, co-chaired the India-France Economic and Financial Dialogue (EFD) in Aix-en-Provence.

“As the economic relationship between India and France deepens within the broader framework of the special global strategic partnership, resuming high-level exchanges on international outlook, bilateral cooperation and outcome-oriented solutions had become essential,” according to an official statement.

During the dialogue, India and France discussed greater alignment of their positions within multilateral economic platforms such as the G20 and the Paris Club, in the context of India’s association to the French G7 presidency. Both ministers also exchanged views on the world economic outlook.

They also discussed potential areas for greater bilateral cooperation, for instance the roll-out of the India-France cooperation on critical minerals, as part of a greater discussion between India and France on policies towards economic sovereignty and security and ways to increase cross-investments; opportunities in the high-speed railway sector following-on from the signature of the declaration of intent on railways.

The leaders discussed proposals to further connect the financial industries between India and France, and recognised the value of the French Development Agency’s work in India for economic development and welcomed the prospects for future projects.

The ministers pledged to use the economic and financial dialogue as the main platform for addressing economic, financial, technological, investment and trade matters between India and France.

Both ministers agreed on exploring the possibility of holding the next edition of the dialogue in 2027, according to the statement.

—IANS

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