India and France sign trade deals worth €13 Billion During French President Emmanuel Macron’s Visit To India

Indian Prime Minister Narendra Damodardas Modi with President of France Emmanuel Macron

Indian Prime Minister Narendra Damodardas Modi with President of France Emmanuel Macron

The 4-day visit of the French President Emmanuel Macron to India has already resulted in the signing of 14 agreements in the critical areas of Security, Nuclear Energy, and Protection of Classified Information. The agreements were signed between various companies hailing from the two countries and are worth €13 billion ($16 billion) in total.

Bilateral talks between Prime Minister Narendra Modi and French President Emmanuel Macron in New Delhi

Just before the deals were signed, there were bilateral talks between Prime Minister Narendra Modi and French President Emmanuel Macron in New Delhi. Agreements were reached in areas of Education, Environment, Urban Development, and Railways.

Education, Environment, Urban Development, and Railways on talks

There is robust cooperation between India and France in the areas of defense and security, said PM Modi while addressing a joint press conference soon after the bilateral talks.

“Our strategic partnership may be just 20 years old, but our cultural and spiritual partnership is even older. The values of liberty, equality, and fraternity echo not just in France but have been embedded in India’s Constitution as well,” the Prime Minister said.

The two countries would also work together to combat the threats of terrorism and radicalization, said Macron during the joint press conference. He added that there is a new significance for the cooperation between France and India in the field of defense.

“We want India as our first strategic partner here, and we want to be India’s first strategic partner in Europe, and even the western world,” the French president told the media.

Events in the Indo-Pacific region and the need for cooperation between the two countries there also featured in the talks.

Details of Trade and Development deals between French Companies and Indian Companies

Details of some of the deals were mentioned by Macron in his address. The deals – as mentioned by the French President, included an executable contract between Air Liquide and Sterlite, modernization of the water system in the South Indian city of Davangree by Suez and supplying of aircraft engines to the Indian airlines SpiceJet by France’s Safran.

Prime Minister of India with the President of France

Prime Minister of India with the President of France

 

No details of the agreements or the individual breakdown of deals were not mentioned by the Macron’s office. It only announced that a total investment of €200 million will be made by France in India.

The French to build Six Nuclear Reactors at Jaitapur?

With regards to the building of six nuclear reactors at Jaitapur, French utility EDF and India’s NPCIL signed between them what is being called the “Industrial Way Forward Agreement”. It has been years now that talks and deliberations for the setting up of state-of-the-art nuclear reactors in India have been undergoing.

However, the announcements did not make it clear whether the agreement for the nuclear facility was only a letter of intent or firm contracts.

Macron had arrived in India on Friday and was welcomed to the country by Prime Minister Modi.

“Another chapter in the glorious book of our friendship! PM Narendra Modi welcomes President of France Emmanuel Macron at the Hyderabad House in New Delhi ahead of the bilateral talks,” MEA spokesperson Raveesh Kumar tweeted along with pictures of the two leaders Saturday.

Macron would be in India for a total of four days.

India-France Strategic Partnership treaty created in 1998

Additionally, possibilities of further enhancement of the India-France Strategic Partnership treaty created in 1998 was discussed with the French President by India’s External Affairs Minister Sushma Swaraj on Saturday.

 

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