Commerce and Industry Minister Piyush Goyal made an urgent appeal to investors and venture capital funds at the closing ceremony of Bharat Innovates 2026 in Nice, France, urging them to 'get into action' and start investing in India before it is 'too late'. According to NDTV, Goyal stated that 'To our investors and venture funds, the time is now, get into action and start investing before it is too late. Indian family offices, Indian venture capital funds, Indian investors, Indian corporates, they all have to come into action.' The minister emphasized that 'the ecosystem is ready, our startups are doing some phenomenal work, there are tried and tested models in India, the market is large, government will help connect you to the market, the policy framework is available'. Goyal's comments came during the three-day summit that brought together startups, venture capital funds, entrepreneurs, technology leaders, academic institutions and policymakers from India, France and several other countries.
The minister highlighted that the India-France relationship was elevated to a 'special global strategic partnership' this year, marking a significant milestone in bilateral ties. As reported by PTI, Goyal recalled key diplomatic engagements including Prime Minister Modi co-chairing the AI Action Summit in Paris in February 2025 and President Macron's participation at the AI Impact Summit in India in February 2026. The minister emphasized that their meeting in Nice 'reaffirming their shared vision for a more inclusive and innovative world' underscores the growing synergy between the two nations. The initiative is central to the 2026 India-France Year of Innovation, a designation that marks the deepening ties between the two nations. Goyal also pointed to the increasing collaboration between India and France in the field of artificial intelligence and emerging technologies, reflecting the expanding scope of cooperation between the two nations.
Goyal invited French firms to visit India, invest in India, design in India, innovate in India and manufacture in India, specifically highlighting opportunities for both the large domestic market and export potential to the rest of the world. According to NDTV, the minister called upon the domestic industry to promote startups by joining hands with them in the manufacturing segment, stating that 'So that India will become your [Indian industries] launch pad and the global market will become your destination.' He also urged researchers, academia and higher institutes to jointly carry out R&D programmes to help 'reduce the time towards scientific discovery and reduce the time to market the good work that is being done in India'. The government has announced a series of measures to promote the startup ecosystem in India, including the ₹10,000 crore Fund of Funds scheme, with almost the entire amount of the second tranche being committed for deep tech innovators and entities. Goyal also sought suggestions on further improving the ease of doing business in the country and measures to encourage Indian startups working overseas to return and establish their base in India.
Goyal highlighted that innovation is now a culture in India, powered by over 230,000 startups, positioning India as an attractive destination for manufacturing partnerships and investments. As reported by PTI, the minister set the context amid global volatility, stating 'Friends, we are meeting at a moment of uncertainty, when the churn in the world of geopolitics is meeting the churn of frontier technology. At such moments, the world seeks trusted and reliable partners, and that is what India brings to the table.' He noted that the current moment requires 'trusted and reliable partners,' positioning India as a stable anchor powered by its immense talent pool and youthful energy. The minister's comments were made during Modi's current visit to France, where he is scheduled to hold talks with Macron and attend the G-7 Summit. The summit aims to facilitate innovation-led partnerships, investment opportunities and collaboration in sectors such as artificial intelligence, semiconductors, advanced computing, biotechnology, healthcare, climate technologies, manufacturing and space technology.
The bilateral trade between India and France dipped to USD 15.81 billion in 2025-26 from USD 15.19 billion in 2024-25. France currently ranks as the 11th-largest investor in India with USD 12.25 billion in foreign direct investment between April 2000 and March 2025. Modi's visit includes a week-long tour that also includes a two-day visit to Slovakia, with the current stop in Nice marking the beginning of this diplomatic engagement. The minister's address was a clear invitation to French stakeholders to move beyond traditional cooperation and into deep-tech and manufacturing integration, emphasizing that the goal is not just partnership, but 'to concretise our efforts to be the world's innovation partner.'
