French firms to invest $10 billion in India: Finance Minister Michel Sapin

French firms to invest $10 billion in India: Finance Minister Michel Sapin#NewDelhi: #France President Mr  Hollande, invited as guest of honour for India’s Republic Day celebrations, hopes to seal an intergovernmental deal that would pave the way for the multi-billion-dollar sale of 36 Rafale combat jets.

Michel Sapin was speaking at a joint business session organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and attended by both Indian and French players in the defence, aeronautics, urban development sectors.

Both PM Narendra Modi and Hollande are also likely to discuss upgrading the “special and strategic partnership” signed in 1998. For the past few months, officials have been discussing a closer engagement on counter-terrorism cooperation on the lines of the India-US homeland security dialogue.

The nations are also set to discuss more cooperation on the lines of renewable energy agreement signed last April.

 Bureau Report

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