The way forward to boost France-India trade is to focus on collaborations with the small and medium enterprises (SMEs) in all sectors of the Indian economy, said Hollande, addressing an India-France business meet organized in New Delhi jointly by industry associations FICCI, CII, ASSOCHAM and the French Embassy.
The visiting president also said "every type of French company, from the small to the big, should have access to the Indian market."
SMEs make up 99.8 percent of French businesses, while microfirms account for 93 percent. French micro enterprises have a higher labour productivity than many of their counterparts in other European countries.
Indian MSME sector comprises over 31 million units, employing over 73 million people, contributes over 40 per cent of India's industrial production and 40 per cent of Indian exports.
In his speech, Hollande said India-France two-way trade, which currently stands at $7.5 billion, could rise in a sizeable and sustained manner towards the target of $12 billion.
Even in the backdrop of a difficult economic climate, bilateral trade between India and France registered a robust growth in 2012, reaching US$ 9.4 billion.
"There is immense scope of cooperation and both nations must also look at audio-visual, retail and culture as potential sectors for business engagement," Hollande said.
He invited Indian businessmen to invest in France and appealed to the French delegation members to look for partnership opportunities in India.
France is India's fifth largest trading partner and investor in Europe, and fourth largest recipient in Europe of Indian investments.
http://www.smetimes.in/smetimes/news...ande80262.html
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