"We foresee greater co-operation between both countries especially in the aeronautical sector. We are planning to set up aircraft manufacturing and training facilities here," French Ambassador to India, Dominique Girard told PTI.
His comments, during a function in New Delhi on Sunday, come months after officials of Airbus Industrie, headquartered in Toulouse, France, said that the aircraft manufacturer plans to outsource as much as 60 per cent of its production and intends to allocate more work to India and China.
Such a move will help the European aircraft maker gain more customers in the country, whose national carrier Indian has placed orders for 43 aircraft with Airbus. Besides, private airlines like Kingfisher are also major customers of the aircraft maker.
Girard said he expected bilateral trade, which has already crossed the $3 billion mark, to more than double in the next five years. "Besides setting up these facilities in the aeronautics sector, we also plan to bring in technology transfer so that both countries can benefit through joint research and development," he said.
France is presently India's fifth largest trading partner in the European Union. Commerce Minister Kamal Nath had recently attended the 14th Indo-French Joint Committee meeting in Paris during which the two countries had explored avenues for furthering trade and economic cooperation.
Last year, Airbus chief executive Gustav Humbert had revealed that the company was looking to outsource up to 60 per cent of its production, while retaining "core competencies".
Citing the "growing partnership" between the European aviation consortium EADS and India's Hindustan Aeronautics Ltd in aircraft development and maintenance, Girard said similar ventures were on the cards.
France also hopes to tap India's vast human resource base, he said, adding that investments in biotechnology, IT and manufacturing sectors were also being considered.
Girard said a legislation on immigration, passed recently by the French Parliament, would open new avenues for qualified professionals and students from India to access the French job market.
"The whole purpose of the legislation is to open the job sector to foreign professionals. India, with a huge human resource base, would benefit immensely through this," he said.
Under the new legislation, foreign students are entitled to stay in France for an additional six months after completing studies and can gain work experience or take up jobs in the country during this period, Girard said, adding that France intends to become a top educational destination for students from India.
Steps to ease visa procedures for students and professionals will also be taken up on a priority basis, the French Ambassador said.