This reporT analyzes The role of the French state in the French defense industry and arms exports. The report poses three questions: What is the significance of the defense industry in France's defense and security policy? What is the relationship between the French state and its defense industry? What instruments and methods do political and state actors use to promote French arms exports? The analysis focuses on President Emmanuel Macron's terms of office. The defense industry plays a central role in France's strategic autonomy and in the production of materiel for the French armed forces. Despite the privatization program that took place in the 1990s, the French state has retained its influence over the domestic defense industry as a shareholder, customer/client and developer of new defense equipment. France is the world's second-largest arms exporter after the United States, with a traditional orientation towards non-European markets and the export of large weapons systems. Today, there is a strong political ambition to increase exports and cooperation within Europe and to diversify international collaboration, including with Sweden. France pursues an active arms export promotion policy: the report particularly highlights the role of the President, the Ministry of Foreign Affairs, the DGA, the Ministry of Defense, and the French Armed Forces. France's approach is pragmatic. Offset requirements from recipient countries have increased in scope. The report contains an illustrative case study of France's exports to India.