The Hindu Business Line : Investors from India are welcome: Sarkozy

The French President, Mr Nicolas Sarkozy, and the Minister for Commerce and Industry, Mr Kamal Nath, at a meeting with Indian businessmen in the Capital on Friday. —

Our Bureau

New Delhi, Jan. 25

In an attempt to further cement the strong economic relations between India and France, the two countries have agreed to work together to ensure that bilateral trade and investments touch €12 billion by 2012. The two nations also agreed to boost civilian nuclear cooperation and discuss an agreement in this regard.

Addressing the industry, the French President, Mr Nicolas Sarkozy, said that the French economy needed capital and entrepreneurs from India. “Investors from India are welcome. The balance of the world has changed and India has a major role to play and France may be its best friend,” the President added.

Earlier in the day after talks with the Prime Minister, Dr Manmohan Singh, the two countries agreed to intensify cooperation in the fields of education, culture, tourism and scientific research. A joint statement issued at the conclusion of official talks adds that to achieve this it was decided that an Indian cultural centre be set up in Paris.

Nuclear co-operation

Both leaders also agreed to discuss a civilian nuclear-cooperation agreement. Mr Sarkozy said France wants global consensus for India to get a waiver from the International Atomic Energy Agency (IAEA) that will allow the country to use civil nuclear energy. He, however, did not give a timeframe.

India should be given approval for the safeguards agreement with the IAEA, Mr Sarkozy said, adding that the agreement should take place “in a matter of weeks”.

France will back offers from Paris-based Areva, the world’s biggest nuclear plant maker, to sell reactors to India after the IAEA agrees on safety rules and the country moves on to an “operational phase”, Mr Sarkozy said.

The two nations also agreed that India will take part in building an experimental nuclear reactor in France.

Furthermore, to promote people-to-people contacts, France will open consulates in Kolkata and Bangalore during the year.

Both countries have also decided to consolidate their relationship in the field of defence by increasing the range, level and frequency of their military joint-operations and cooperation.

France has also supported India’s inclusion as a permanent member of the Security Council, thereby making the UN more relevant in the 21st century. “France does not accept the new world order,” Mr Sarkozy said and added that the grouping of the industrialised nations should be expanded to include India, China, Brazil and Mexico.

Taking a dig at the Indian Government’s decision to cancel a large order of French helicopters, the President said, “When you (India) calls for tenders we would rather that you do not cancel them. If there has to be a problem let it be with some one else.”

The two sides also signed five agreements, including a memorandum on mutual protection of classified information in the field of defence and another on an International Associated Laboratory in the field of Neuroscience.

Related Stories:
France-India trade poised to double in 5 yrs: Envoy

More Stories on : Foreign Relations | Recommendation | Foreign Trade

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Investors from India are welcome: Sarkozy

Jet Air may invest $8 m initially in its cargo airline

Costlier manufactured goods push up inflation rate

Despite global crisis, India will sustain growth: PM

Passive index funds lag behind active funds

Boosting nuclear ties

Delays plague NTPC-NCDEX power exchange venture

Dr Reddy’s posts net loss of Rs 85 cr in third quarter

S&N’s buyout brews trouble for UB

Yellow metal touches all-time high

Bulls roar back as Sensex scores record 1,139-point rally

P-Note controversy fails to dampen FIIs’ sentiment

FICCI, CII pitch for rate cut