Mumbai: France's Foreign Trade Minister, Anne Marie Idrac, on Wednesday said bilateral trade between India and France would reach the USD 12 billion mark by 2012.
The total trade between India and the EU countries was pegged at USD 73 billion, of which France shared 12.14 percent during 2007-08, Idrac told reporters here today.
During 2007-08, Indian imports (from nuclear reactors, boilers, mechanical appliances) stood at USD 6.3 billion, which was a significant increase from a mere USD 0.60 billion in 2000-01.
The French Minister also identified green technology, information technology and nuclear power as potential sectors for boosting trade relations with India.
"There is an ample opportunity in green technology sector as well as IT and nuclear power and France is scouting for opportunities to invest in India. We also invite Indian companies to invest in France," Idrac said.
With a number of French companies like Lafarge, Saint-Gobain, Alstom (Power), and Total Gas & Power India, that country was keen to setting up more nuclear reactors in India.
French company Areva has recently signed an MoU with Indian utility company, Nuclear Power Corporation of India limited (NPCIL), to set up a 1,650 MW nuclear power plant in Maharashtra.
Areva would supply the equipment for the nuclear power project to be developed by NPCIL.
France has plans to set up six units of European Pressurised Reactors (EPRs) by 2023 with investment coming through External Credit Assistance from foreign banks like HSBC and BNP Paribas.
Source : zeenews.com