India and France are strengthening their partnership with a shared focus on sustainable urban development, marking a new chapter in real estate growth and infrastructure transformation. Commerce and Industry Minister Piyush Goyal, speaking at the Asia Pacific Commission (APAC) 2024 Forum, called for enhanced collaboration between the two nations in key sectors such as real estate, electric vehicles (EVs), aerospace, and renewable energy. By adopting sustainable practices, particularly in urban development, the two countries aim to combat the global challenges posed by climate change and environmental degradation.
The India-France bilateral trade reached an impressive $15 billion in 2023-24, reflecting the growing economic interdependence between the two nations. This relationship is increasingly benefiting India’s real estate sector, with France’s growing involvement in the country’s infrastructure projects. As India continues to urbanise at a rapid pace, the need for green building solutions, sustainable construction materials, and energy-efficient infrastructure has never been more critical. France’s expertise in these areas presents a unique opportunity for India to incorporate best practices in urban development. One area where India and France are poised for significant growth is the electric vehicle sector, which has a direct impact on urban mobility and real estate. India, with its expanding population of first-time vehicle owners, is an ideal market for integrating sustainable EV solutions into its growing urban areas. As cities expand, the demand for green mobility solutions becomes integral to real estate development, ensuring seamless integration of EV infrastructure into residential, commercial, and industrial properties. France’s technological expertise in EVs, combined with India’s vast manufacturing potential, can drive innovation in this space, benefiting both countries in their efforts to create sustainable cities.
Moreover, the collaboration between India and France extends to renewable energy, particularly through the success of the International Solar Alliance (ISA), co-founded by the two nations. The ISA’s focus on solar energy plays a crucial role in powering sustainable real estate projects, reducing dependence on traditional energy sources, and contributing to greener urban environments. The partnership also opens avenues for joint innovation in construction technology, creating more energy-efficient buildings and eco-friendly living spaces. From a digital perspective, India and France are exploring areas such as cybersecurity, artificial intelligence (AI), and smart city solutions that can transform urban infrastructure. As both nations look to build smart, sustainable cities, the exchange of technological advancements will ensure that real estate developments are equipped with cutting-edge digital solutions, enhancing urban living while minimising environmental footprints.
The defence sector also presents opportunities for collaboration in the real estate domain, particularly in the development of security-focused infrastructure. India’s unique patent-protected regime offers a model for joint innovation in building secure, sustainable commercial and residential spaces, particularly in high-growth urban centres. As India’s real estate market continues to evolve, the deepening collaboration with France promises to usher in an era of sustainability, innovation, and growth. With France’s leadership in technology and India’s capacity for large-scale manufacturing, this partnership is set to redefine urban living, creating greener, more efficient, and sustainable cities for the future. The people of both nations stand to benefit from this shared vision, as their cities become models of sustainable urban development.
