India and France agree to tighten cooperation in businesses
Prime Minister Narendra Modi has encouraged French CEOs to utilize the investment opportunities in India and be a part of India’s growth story.
He has also highlighted India’s progress in renewables, startups, pharma, IT, digital payments and infrastructure and the various initiatives undertaken to foster business.
Modi acknowledged the role played by leading French industry leaders in strengthening bilateral relations and promoting economic cooperation between India and France.
The Prime Minister and French President Emmanuel Macron on 14 Juy 2023 jointly addressed the CEOs which also included leading Indian businessmen.
The Forum consisted of CEOs from diverse sectors including aviation, manufacturing, defence, technology, energy, among others.
During Modi’s two-day visit to Paris, India and France released a raft of agreements tightening cooperation in areas where they agree.
The biggest step is a preliminary Indian accord to buy 26 more Rafale fighter jets and three more Scorpene French- and Spanish-made submarines, on top of a prior deal for 36 Rafales and six Scorpenes. Price details still need to be worked out.
“Cooperation in defense is the basic pillar of our relationship,” Modi said. “Be it a submarine or a navy ship, we want to work jointly not only for ourselves but other friendly nations too.”
Modi also underlined India’s desire to increase cooperation with France in space, and highlighted the ambitious launch of a spacecraft toward the far side of the moon on 14 July 2023.
France houses the European Space Agency’s main launch site, in French Guiana.
The two leaders also announced new initiatives to cooperate on renewable energy, hydrogen projects, artificial intelligence and semiconductors, all of these are being developed in India on scale for the country to become a leading player in the global supply chain. Fiinews.com
