India and France have a long history of trade relations that date back to the 17th century. The two countries have continued to strengthen their economic ties through various trade agreements. In this article, we will explore the key trade agreements between India and France and the impact that they have on their respective economies.

One of the most significant trade agreements between India and France is the Comprehensive Economic Cooperation Agreement (CECA) signed in 2008. This agreement provides for the reduction or elimination of tariffs on goods traded between the two countries. The CECA covers a wide range of sectors, including trade in goods and services, investment, intellectual property, and customs procedures. Under this agreement, India and France have committed to increasing bilateral trade from the current USD 13 billion to USD 30 billion by 2022.

Another important trade agreement is the bilateral investment treaty (BIT), signed in 1997. The treaty provides for the protection of foreign investments made by companies in India and France. It also allows for the resolution of disputes through arbitration. The BIT has been instrumental in promoting bilateral investment between the two countries.

In addition to these agreements, India and France have also signed several sector-specific agreements. For instance, in 2015, the two countries signed an agreement on cooperation in the field of renewable energy. This agreement aims to promote the development of renewable energy sources such as solar and wind energy. It also provides for the exchange of knowledge and technology in this field.

Similarly, in 2018, India and France signed an agreement on cooperation in the field of artificial intelligence (AI). The agreement aims to promote research and development in AI and to exchange knowledge and best practices in this field. This agreement is significant considering that India is rapidly becoming a global hub for the development of AI technologies, while France is leading the way in AI research.

The trade agreements between India and France have had a significant impact on their respective economies. Bilateral trade between the two countries has increased steadily over the years, with the CECA providing a major boost. The agreements on renewable energy and AI have also opened up new avenues for cooperation between the two countries.

In conclusion, the trade agreements between India and France have not only strengthened their economic ties but also paved the way for cooperation in various fields. These agreements have created opportunities for businesses in both countries to expand their markets and increase their profits. As the global economy becomes more interconnected, such agreements will continue to play an important role in shaping trade relations between countries.