France Clinches $20 billion deal with India

By admin • December 6th, 2010

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France agreed a deal with India worth $20 billion spanning atomic energy, defence and civil aviation. The $20 billion deal signed by French president Nicolas Sarkozy, has doubled US president Barak Obama’s $10 billion deal signed with India during November.

Sarkozy who was in India on a four day visit, called for a joint proposal with India to push forward his reform agenda for the G20 group of developed and emerging nations, which includes changes to the global monetary system and commodity prices.

At a press conference with Indian Prime Minister Manmohan Singh, Sarkozy also said that “no big-item problem in the world can be solved without India participating at the highest level. India is a major economy. We came to visit India as a partner”.

The two countries signed a framework contract for the sale of a minimum of two French atomic reactors Areva, estimated to be worth 7 billion Euros.

France is said to be competing with American and Russian firms for a part in India’s civilian nuclear energy market, as it is estimated to be worth $150 billion.

International Government Affairs & Corporate Relations Consultants for Emerging Markets

 

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