Though politically, the two countries seem to have come very close, economic ties are the weakest link in the chain. Over the last four years, bilateral trade has remained more or less stagnant at $1.7 billion, making France one of the smallest trading partners for India, while ironically the European Union is Indias biggest trading partner, accounting for over a third of Indias exports. France, by contrast, accounted for less than two per cent of it, even though it is the second largest economy in the EU. The French record in investments into India is even worse. With cumulative investments of less than $243 million till the end of last year, France ranked behind almost all its EU partners. Prime Minister Lionel Jospin also expressed his concern at the state of the economic relations and urged the Indo-French Forum to take the necessary steps to boost bilateral business ties.