Indian Economy News

France to invest 2 billion euros in India; help in development of three smart cities

New Delhi: Looking to participate in India's growth story, Francois Hollande on Friday announced that France will invest 2 billion Euros in India. "France will help in the development of three smart cities in India, including Pondicherry and Nagpur," France President Hollande said.

India-France signed 17 agreements in sectors such as railways, skill development, science and technology.

Hollande said, "I am very keen on PM Modi's Make in India initiative. France supports the ambitious campaign. "We have role to play in stability and peace, which is why we support India and want it to become a permanent member of the UNSC," he said.

"We also want to share climate change technologies," he said. "We are prepared to welcome more Indian students to France. We are willing to train Indians in France," Hollande said.

"We are honoured to have PM Modi in France. His visit is very important for us," Hollande concluded.

In a potential deal that will give a boost to India's defence capabilities, Prime Minister Narendra Modi on Friday announced that India is looking to buy thirty six Rafale jets in fly away conditions from France as soon as possible.

"I have told President Hollande that India wants the jets as soon as possible. A deal better than the previous one will be worked out by officials of the two countries," PM Modi said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.