PM Modi in France: India to buy 36 Rafale jets, France to invest 2 billion euros | Zee News
"Keeping in mind critical operational necessity of fighter jets in India, I have talked to him(Hollande) and requested for 36 Rafale jets in fly-away condition as quickly as possible under government-to-government deal," Modi said.
An agreement on proceeding forward on the stalled nuclear project in Jaitapur in Maharashtra was among the 17 pacts signed after the talks between Modi and Hollande.
The Jaitapur project, where French company Areva is to set up six nuclear reactors with total power generation capacity of about 10,000 MW, is stuck for long because of differences over the cost of electricity to be generated.
The agreement between India's Larsen and Toubro and France's AREVA is aimed at cost reduction by increasing localisation, to improve financial viability of Jaitapur project.
Another pact related to Pre-engineering agreements between NPCIL and AREVA in connection with studies that is intended to bring clarity on all technical aspects of the plant so that all parties (AREVA, ALSTOM and NPCIL) can firm up their price and optimise all provisions for risks still included at this stage in the costs of the project.
It will also enable transfer of technology and development of indigenous nuclear energy industry in India.
France also informed India of its decision to implement a scheme for expedited 48 hours visa issuance for Indian tourists.
"There is no such sphere where India and France are not cooperating. France is among India's most valued friend," Modi said.
France also announced an investment of 2 billion euros (about USD 1 billion) in India as Modi invited French companies to pump in money in technology in the fastest growing economy.
France will invest 2 billion euros in India, Hollande announced at a CEO forum here.
Inviting French investors, Modi said, "There is no bigger market than India. It is also the fastest growing economy since the last six months. Various rating agencies like World Bank and Moodys have said in one voice that India is the fastest growing nation.
"It is rare to find a country with a market, with the government determined on development and demographic dividend. Investors are usually worried about the security of intellectual property (IP). Only democracies like India can guarantee that," he said.
Addressing a CEOs forum, Hollande said: "We are ready to allocate through French companies 2 billion euros to support India's sustainable development."
He said France will partner India in Urban development of infrastructure like railways and defence and nuclear sector.
Noting that President Hollande has supported 'Make in India' initiative especially in defence sector, Modi said at the joint news conference that the two countries have decided that the Rafale jets will be provided to India in modified terms and conditions.
"Today, we have taken defence cooperation between India and France to new levels."
"I had very good talks with President Hollande. Our defence sector ties are old. In defence equipment and technology. France has always been a reliable supplier. From fighter jets to submarines, our ties have been foremost," he said.
Modi said that in the area of Nuclear power, France has been a major partner with India.
"I am happy that in Jaitapur, we have made progress on setting up 6 nuclear power projects. Both have signed an agreement on reducing the cost of power production and more technical support and further study.
Especially, Areva and L&T have signed an agreement for making forgings in India. I feel this agreement is very significant and will be a perfect example of 'Make in India' and will take India to a new place in the area of advance technology." he said.
On other issues, Modi noted that there is a challenging atmosphere in the world and that there is turbulence in different areas due to which all are affected. "In this changing world, there are a number of uncertain questions on stability."
"Terrorism is spreading and taking new shapes. This challenge is being tackled in different forms and to tackle that an extensive strategy is to be evolved. Be it Paris or Mumbai, India and France have understood each other," Modi said.
The Prime Minister said it is the responsibility of every nation to lend support in the fight against terror and not allow terror groups to take shelter and punish the terrorists as soon as possible.
"India and France similarly views these challenges and that is why we will further strengthen our security ties," he added.
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India, France Sign Key Pacts in Nuclear, Space and Energy During PM Modi's Visit
Charcha happened before the boat ride at the Elysee Palace where the two leaders met for summit talks. Apart from a breakthrough on the deal for Rafale fighter jets -
India has said it is looking buy 36 jets off the shelf - the two countries have signed 17 agreements, including one on a stalled nuclear project in Jaitapur in Maharashtra.
An MoU was signed between Larsen and Tubro and France's AREVA aimed at cost reduction by increasing localisation, to improve the financial viability of the Jaitapur project.
The agreement will also enable transfer of technology and the development of an indigenous nuclear energy industry in India.
The space agencies of two countries also agreed to cooperate in the areas of satellite remote sensing, satellite communications and satellite meteorology. Other agreements signed were in the fields of energy, culture, tourism, conservation, Ayurveda, skill development and science and technology.
President Hollande also said that
France will invest 2 billion Euros in India and help develop three smart cities, including Puducherry and Nagpur.
Earlier, PM Modi used his 'Make in India' initiative to invite top
French businessmen to invest in the country, particularly in the areas of defence and infrastructure.
Mr Modi was given a ceremonial welcome as he arrived in Paris on Thursday night, his first official visit to Europe after becoming the Prime Minister. On Friday, he addressed a packed hall of UNESCO headquarters, where he assured that rights and liberty of citizens of all faiths will be protected and equal place ensured for them in India.
In France, PM Modi will not confine his visit to Paris. He will travel all the way to Toulouse in the south of France, where he will visit the Airbus factory. In the north of France, he will visit a memorial for Indian soldiers who died in the First World War; he will be the first Indian Prime Minister to make this visit.
Prime Minister Narendra Modi enjoying a boat ride on La Siene river with French dignitaries.
