External Affairs Minister Sushma Swaraj declared on Friday (November 17th) that there is a great possibility of increasing bilateral trade between India and France. In a joint press conference with French Foreign Minister Jean-Yves le Drihan.
Mrs. Sushma said that India values multilateral partnership with France:”There is a great potential for increasing the bilateral trade of US$ 10.95 billion between both countries.” The minister informed that about 1,000 French companies are working in the country whose business is worth $ 20 billion.
“Our strong economies provide an opportunity to strengthen trade and commerce. India welcomes French companies to invest in smart cities, clean energy and transportation. We agreed to explore long-term solutions to deal with climate change and sustainable energy. Civil nuclear cooperation is a major basis in India’s alliance with France and we are discussing the specific steps on the quick implementation of the Jaitapur Nuclear Project (JNPP) of 9,900 MW capacity. We are also working with France in the field of defense and space, which are the key pillars of the bilateral strategic partnership”.
India and France signed in 2008 under the Nuclear Cooperation Agreement, the construction of six nuclear reactors of 1,650-1,650 megawatt capacity in Jaitapur. Jaitapur is 500 km away from Mumbai.
France’s EDF team will build six reactors in collaboration with the Indian Atomic Energy Corporation (NPCIL). On this occasion, the French Minister said that Prime Minister Narendra Modi and President Emanuel Macron expressed the desire to keep up with the agreement of the Paris on climate change and the establishment of the International Solar Coalition.
