India and France co-chair Economic & Financial Dialogue, agree to deepen cooperation on critical minerals and financial ties
New Delhi, July 4
Union Minister for Finance & Corporate Affairs, 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 in Aix-en-Provence on Friday, the Ministry of Finance said.
The Ministry said the dialogue was held as part of efforts to strengthen economic engagement between India and France within the framework of their special global strategic partnership. It noted that resuming high-level exchanges on the international outlook, bilateral cooperation and outcome-oriented solutions had become essential as economic ties between the two countries deepen. The meeting follows the commitment made during French President H.E. Mr. Emmanuel Macron's visit to India in February 2026, and during Prime Minister Shri Narendra Modi's engagement, to hold the dialogue in 2026.
According to the Ministry of Finance, the discussions covered coordination in multilateral forums as well as specific areas for expanding bilateral cooperation. Both Ministers spoke about greater alignment of India-France positions within platforms such as the G20 and the Paris Club. The talks were held in the context of India's association with the French G7 presidency. They also exchanged views on the world economic outlook and the challenges facing global growth.
The Ministry said a key focus was on building cooperation around economic sovereignty and security. India and France discussed the roll-out of cooperation on critical minerals as part of a broader conversation on securing resilient supply chains. Ways to increase cross-investments were also taken up. In the infrastructure space, the two sides explored opportunities in the high-speed railway sector, building on the declaration of intent on railways signed earlier.
The Ministry added that proposals to further connect the financial industries of India and France were also on the table. The aim, it said, is to support greater trade, investment and technology collaboration between the two economies. Both Ministers recognised the value of the French Development Agency's work in India for economic development and welcomed prospects for future projects in areas such as urban infrastructure, climate and energy.
The Ministry of Finance stated that the two 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. They also agreed to explore the possibility of holding the next edition of the dialogue in 2027. The Ministry noted that the dialogue is expected to help both countries coordinate more closely on supply chains, clean energy, digital sovereignty and infrastructure financing in the coming years.
— ANI
Reader Comments
Finally some smart diplomacy! While everyone is obsessed with the US-China rivalry, India is quietly building partnerships with European powers like France. Critical minerals are the new oil - securing supply chains with France makes perfect sense. More of this please!
Honestly, I'm a bit skeptical. These dialogues happen every year but how many jobs actually come to India? The French Development Agency does good work, but we need more Indian companies investing in France too. Let's see if the next edition in 2027 shows real progress.
High-speed railways with French collaboration? Yes please! Indian trains need a massive upgrade and France has world-class TGV technology. Also good to see focus on climate and energy projects - these are real priorities for our future. Keep the momentum going!
Smart move by India. France is one of the few EU countries that actually understands India's strategic autonomy. Critical minerals cooperation is especially important given China's dominance in rare earths. But we need to ensure this partnership benefits Indian MSMEs too, not just big corporations.
Love the focus on digital sovereignty! With all the data privacy concerns, we need strong partners who respect our digital rights. France has been very vocal about tech regulations - this alignment with India's digital push is promising. 👏
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