France signs deals worth $16 billion in India, Macron’s office says
Sat Mar 10 2018
Ray Pierce (786 articles)

France signs deals worth $16 billion in India, Macron’s office says

 French and Indian companies signed contracts worth 13 billion euros ($ 16 billion) on the first day of President Emmanuel Macron’s visit to India on Saturday, the French presidency said in a statement.

The deals include a contract for France’s Safran to supply airline Spice Jet with engines, water system modernization by Suez in the southern city of Davangere and a contract between industrial gas company Air Liquide and Sterlite.

Macron’s office did not provide a breakdown of the contracts’ values or details about the deals. It some 200 million euros of investments will be made in India.

A so-called “Industrial Way Forward Agreement” was signed between French utility EDF and India’s NPCIL for the construction of six nuclear reactors at Jaitapur.

Negotiations over the construction of next-generation nuclear reactors in India have been dragging on for years.

It was not immediately clear whether these were firm contracts or letters of intent.

 

Ray Pierce

Ray Pierce

Ray Pierce is a Senior Market Analyst. He has been covering Asian stock markets for many years.