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India, France Joint Committee Launches Bilateral Fast track mechanism in Investment

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18th Session of India-France Joint CommitteeUnion Minister of Housing and Urban Affairs Hardeep Singh Puri and French Minister delegate for foreign trade and Economic Attractiveness Franck Riester launched “Bilateral Fastrack Mechanism” to increase investments in the 18th session of India France Joint Committee.

Joint committee meetings between Indian and French delegates are conducted regularly to improve the bilateral trade and investment between the countries in the post pandemic world.

About Foreign Direct Investments(FDI) in India:

Investments made by one country in a business entity of another country is known as Foreign Direct Investments(FDI).

Top 10 FDI countries to India in 2020:

In 2020, France holds the 7th position in FDI to India

  1. Singapore ($8.3 billion)
  2. United States ($7.12 billion)
  3. Cayman Islands ($2.1 billion)
  4. Mauritius ($2 billion)
  5. Netherlands ($1.5 billion)
  6. United Kingdom ($1.35 billion)
  7. France ($1.13 billion)
  8. Japan ($653 million)
  9. Germany ($202 million)

10.Cyprus ($48 million)

About India-France relation:

i.Joint Military Exercise- “SAKTHI”

Started in 2011 conducted alternatively in India and France

SAKTHI-2019 conducted in Rajasthan, India

ii.Joint Naval Exercise- “VARUNA”

Started in 1983

VARUNA-2019 conducted at Goa Coast, India

iii.India has ordered 36 Rafale Fighter jets from France Aerospace manufacturing company Dassault Aviation at a cost of INR 59,000 crore

Recent Related News:

Recently, India has received the third batch of Three Rafale Fighter jets at Jamnagar Air base in Gujarat. Induction of all 36 Rafale jets will get completed by 2023.

About Ministry of Housing and Urban Affairs:
Minister of State– Hardeep Singh Puri
Headquarters– Nirman Bhavan, New Delhi

Ministry launched National Smart City mission in 2015