MIDEST is the sole international show to specialize in industrial subcontracting. Conceived both as a network and a catalyst for industry, it makes it possible to initiate, consolidate and develop opportunities of all kinds for collaboration between those involved in the design and production of made-to-measure parts or sub-assemblies.

The show plays a decisive role in establishing relationships between customers and subcontractors, offering them an event that is both human in scale and friendly in atmosphere where they can evaluate and refine their panel of subcontractors, identify the right partners, forge the contacts that will be crucial to the success of their projects, gather information and discuss key industry topics and discover and gain an understanding of trends in technology and innovations.

A modern country and a leader among European nations, France has long enjoyed a diversified economy, with tourism, manufacturing, and pharmaceuticals among its leading industries. Franceis the fifth-largest trading nation in the world and it is the second-largest EU economy after Germany and the second-most populated. After a strong economic recovery from the pandemic, France was hit by an energy shock driven by Russia’s invasion of Ukraine. Nevertheless, the economy has remained resilient and inflation well below other EU countries due to more limited reliance on Russian gas and a strong policy response—including price controls on gas and electricity, tax reductions on fuel products, transfer payments, and measures to support businesses. This cushioned the impact of the energy price shock and the growth is expected to grow moderately in 2023.

India and France’s Bilateral Trade

India and France have traditionally close and friendly relations. India and France have important bilateral investments and trade and commercial cooperation, particularly in sectors involving IT corridors, smart-cities, railways, capital and trade exchanges, skill development etc. France has emerged as a major source of FDI for India with more than 1,000 French establishments already present in India. France is the 11th largest foreign investor in India with a cumulative investment of USD 10.5 billion from April 2000 to March 2023 which represents 1.68% of the total FDI inflows into India. France is an important market in India’s engineering industry basket. It regularly features among India’s top 25 engineering export destinations. Between 2018-19 and 2022-23, India’s exports to France increased from USD 7.76 billion to USD 8.01 billion. While during this period, France engineering imports from India declined, there is significant potential for expansion. Major exported items from India to France include petroleum products (US$ 1.29 billion); followed by electrical machinery and equipment (US$ 795 million), drug formulations and biologicals (US$ 436 million), RMG cotton (US$ 411 million), and telecom instruments (US$ 264 million) in FY23.

The product profile of MIDEST 2024 consists of products related to foundry, metallurgy, metal working, welding technologies, hardware, tools, plastics and rubber processing and various other industrial subcontracting sectors under engineering industry. In 2022-23, India’s global exports of engineering goods stood at USD 107.04 billion as against US$ 112.16 billion witnessed in 2021-22 registering a negative growth 4.57% over the same period last year. The top most suppliers in France’s import basket for engineering goods includes, China, USA and some EU countries including Germany, Italy, Spain and Belgium, etc. India’s share in France import demand is very insignificant constituting a share of 0.9% out of France global imports.