- India signs MoU on the purchase of 36 Rafale aircraft from France.
French President Francois Hollande landed in India yesterday for a three day visit. - Today he met President Pranab Mukherjee after he inspected a guard of honour.
- He is holding talks with Prime Minister Narendra Modi at the Hyderabad House in Delhi.
- Yesterday, President Hollande had mentioned the Rafale deal as one of the main reasons behind his visit to India.
- President Hollande will be the chief guest for the 67th Republic Day parade in Delhi on 26 January 2016.
To promote eco-friendly travel, PM Modi and French President Francois Hollande took the Delhi metro to Gurgaon to inaugurate the International Solar Alliance Secretariat, on Monday.
Modi and Hollande Inaugurate ISA
President Francois Hollande and PM Narendra Modi jointly inaugurated The International Solar Alliance Secretariat in Gurgaon, on Monday. In his inaugural address, Modi said:
In COP21, important environmental issues were discussed. The primary issue is that of global warming and how to mitigate it along with fulfilling mankind’s necessities. India and France took an important initiative to develop solar power, whose international headquarters will be in Gurgaon.
Prime Minister Narendra Modi and French President Francois Hollande Deliver Joint Statement
Among several announcements, an MoU of purchase of Rafale aircrafts was exchanged and signed by the Defence Ministers of the two countries. However, financial matters related to the purchase remained unresolved.
Watch the statement here:
Highlights from PM Modi’s speech:
- Environmental protection is a part of the rainbow of Indo-French bilateral ties.
- Attacks like Pathankot and Paris are examples of growing terrorism.
- All the programmes announced today will enhance our bilateral ties.
- Besides few financial matters, we have completed the Rafale aircraft purchase.
- This will be the fifth time that we will have a French President as the chief guest for Republic day.
- On the occasion of Indian Republic Day, we take pride in inviting you as the chief guest.
Here are the highlights from President Francois Hollande’s statement:
- Civil nuclear technology: we are planning to build 6 EPR reactors.
- Solar alliance: it was a dream to launch international alliance to launch a solar energy project.
- We will put our expertise and skills to use for PM Modi’s idea of smart cities.
- You have a clean energy 2030 goal and France has to stand by India.
- There remain financial issues which will be sorted out.
- These are the aircrafts fighting in Syria and Iraq.
- In France he announced willingness to buy 36 Rafale fighter jets.
- We are also initiating measures to ensure cyber security.
- We agreed on a roadmap to ensure maritime safety.
- We have decided to strengthen our co-operation against terrorism.
- The ISIS is proud of their doings but we will not be repressed.
- France and India were attacked, and we know who hit us. It was Daesh.
- France and India are both aware of the threats against peace including
terrorism.
- We were happy to conclude the agreement, but we know who we owe it to.
France Announces $10 Billion Investment in India
Even as the two leaders are discussing possible deals between India and France, the French Finance Minister has announced an investment of $ 10 billion in the Make In India initiative.
Michel Sapin, French Finance MinisterFrench companies will invest 10 billion US dollars in the next 5 years, this makes France major player in Make In India.
Sapin is in India as a part of President Hollande’s delegation and was speaking at the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi on Monday, according to a report by The Financial Express.
The investments will be mainly in the industrial sector. The investment comes at a time when President Hollande has expressed wish to sign the Rafale deal with India.