16 deals signed

India and France on Sunday inked 16 B2B (Business-to Business) agreements, including three on Smart Cities, and an agreement to manufacture helicopters under Make in India scheme.

An agreement on a French firm acquiring 50 per cent in a renewable energy business as well as two Letters of Intent were also signed during the visit of French President Francois Hollande in the presence of Prime Minister Narendra Modi. Underlining the importance of the relationship between two countries, Modi said at the India-France Business Summit, “India and France are made for each other. France has the resources, we have the need and market.”

Addressing the Indo-French CEOs Forum earlier, the prime minister noted that India has the talent force and market for France’s products. Three separate MoUs were signed between French Development Agency (AFD) and Maharashtra (Nagpur), Puducherry and Chandigarh for developing smart cities.

According to MoU, AFD will provide specific technical assistance on urban development under the French government’s FEXTE programme. French Urban Development experts will be based in these three cities. Also, experts in transport, water and waste treatment, solar energy, urban planning and architecture and heritage will assist the three cities with their smart city developments.

Taking forward the Making in India initiative, Airbus and Mahindra entered into an agreement for manufacturing helicopters. An official said this marks the Indo-French cooperation to manufacture choppers within Modi’s vision of Making in India. The Engineering Projects India Ltd entered into MoUs with nine French firms, including Thales, Dassaukt Systemes, Alstom Transport and Lumiplan.

The MoUs covered integrated rail solutions, execution of works for mountain slope stabilisation, maritime and river works and solutions for sustainable and smart cities such as energy, engineering and construction, innovative IT solutions for public transport and intelligent bus management systems.