Open

Coming up

Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

US judge calls Argentina bond swap offer illegal

Read more

MEDIAWATCH

Media accused of pro-protester bias in Ferguson

Read more

DEBATE

The Murderous Lure of Jihad: Tackiling ISIS and its Worldwide Recruitment (part 2)

Read more

DEBATE

The Murderous Lure of Jihad: Tackiling ISIS and its Worldwide Recruitment

Read more

FOCUS

Republicans block Obama's bid to hike minimum wage

Read more

WEB NEWS

Calls for ISIS media blackout after execution of James Foley

Read more

WEB NEWS

Web users divided over Darren Wilson

Read more

WEB NEWS

Web users take on 'Ice Bucket Challenge' to fight ALS

Read more

ENCORE!

From Paris's Liberation to 'arresting' art in Avignon

Read more

  • US says Islamic State threat 'beyond anything we've seen'

    Read more

  • Malaysia mourns as remains of MH17 victims arrive home

    Read more

  • Reporter’s IS captors taunted family, asked for €100m ransom

    Read more

  • Two US Ebola patients leave hospital ‘virus-free’

    Read more

  • Hollande is ‘nobody’s president’ says former French minister

    Read more

  • Turkey’s Erdogan names foreign minister Davutoglu as next PM

    Read more

  • US reaches historic $16.7bn settlement with Bank of America

    Read more

  • Special report: Supplying Ukraine’s soldiers on the front line

    Read more

  • Israeli air strike kills three top Hamas commanders

    Read more

  • France delivered arms to Syrian rebels, Hollande confirms

    Read more

  • Tensions high in Yemen as Shiite rebel deadline looms

    Read more

  • Interactive: Relive the Liberation of Paris in WWII

    Read more

  • French village rallies behind besieged elderly British couple

    Read more

  • Former Irish PM Albert Reynolds dies at 81

    Read more

  • Former Femen activist detained after fighting veiled woman

    Read more

  • Thailand coup leader Prayuth Chan-ocha voted prime minister

    Read more

Asia-pacific

India, France ink deals worth $20 billion during Sarkozy's India trip

Video by Kethevane GORJESTANI

Text by FRANCE 24

Latest update : 2010-12-09

French company Areva will build two nuclear power plants in west India after Prime Minister Manmohan Singh signed a €7 billion agreement with President Nicolas Sarkozy during his four-day trip to the booming nation.

French President Nicolas Sarkozy made a four-day visit to India earlier this month with an entourage that included his wife, Carla Bruni-Sarkozy, and a bevy of leading French industrialists and ministers.

Trade and nuclear power deals topped Sarkozy’s India wish list, and his jam-packed agenda featured visits to the capital, New Delhi, as well as the Indian commercial capital of Mumbai, and Bangalore, the southern city better known as “India’s Silicon Valley”.

The visit yielded around €15 billion ($20 billion) worth of civilian nuclear energy, defence and aviation deals between France and the world’s largest democracy.

Here are details of the deals signed during Sarkozy’s India visit:

NUCLEAR TECHNOLOGY

France has been a loyal partner in India’s nuclear history in good times and bad, notably following India’s May 1998 nuclear tests, when France was one of the few nations that did not condemn the controversial tests.

During Sarkozy’s latest visit, French nuclear giant Areva and its Indian counterpart, NPCIL (Nuclear Power Corporation of India Limited) signed a preliminary contract for nuclear reactors and services worth about €7 billion for the construction of the first two reactors of six at Jaitapur in the western Indian state of Maharashtra.

The deals include the supply of reactor fuel for 25 years, according to an Areva statement.

S.S. Bajaj, chairman of the Atomic Energy Regulatory Board of India (AERB), and Andre Claude Lacoste, chairman of the Nuclear Safety Authority (ASN) of France, also signed an agreement for the exchange of technical information and cooperation in regulation of nuclear safety and radiation protection.

The agreement renews and updates the existing arrangement, which took effect in 1999 and was renewed in 2005.

AIRBUS

European group Airbus signed lease contracts to supply A-330 aircraft to India's Jet Airways and state-run carrier Air India in separate deals totalling €2.8 billion, according to Indian government officials.

MICHELIN

French tyre-maker Michelin signed a protocol contract with the southern Indian state of Tamil Nadu to invest around €600 million in a factory.

UPGRADING MIRAGES

In the lead-up to Sarkozy’s visit, French firm Dassault Aviation was hoping to pick up a $1.2-billion contract to revamp 56 Mirage-2000 aircraft that France sold India nearly two decades ago.

But the pricing of the upgrade has been a major stumbling block, leading Indian officials to play down the chances of a deal before Sarkozy landed in India. According to Indian news reports, the pricing package offered by French companies Dassault Aviation (aircraft manufacturer), Thales (weapons systems integrator) and MBDA (missile supplier) was around 30% higher than what New Delhi was initially ready to pay.

In the end, India and France agreed to a €1.6 billion deal to upgrade the Mirage-2000 combat jets, said Sarkozy during a joint press conference with Indian Prime Minister Manmohan Singh in New Delhi. But protracted negotiations are expected before the pact is signed.

A cautious joint statement that was issued following talks between Sarkozy and Singh said: “Discussions concerning the upgrading of Mirage 2000 aircraft are expected to be finalised soon.”

RAFALES STILL FOR SALE

Arms-hungry India is expected to spend around $112 billion on defence acquisitions by 2016, and Paris would like to see its Rafale fighter jet feature in the acquisitions, despite the king of Bahrain’s dismissive “yesterday’s technology” quip about the Rafale, which was revealed in the WikiLeaks documents released earlier this month.

The competition, however, is intense, with US F-18 fighter jets, Russian MiG-35s and Eurofighters all in the race. In the end, there was no deal on the Rafale, although Sarkozy said he was still hopeful that India would buy the French fighter jet.

Indian experts have been dismissive of what they call “a champagne effect”, or an inflated price tag, for engineering products with the “Fabriqué en France” label.

 

 

Date created : 2010-12-09

  • FRANCE

    Trade, nuclear power deals top Sarkozy’s India wish list

    Read more

  • FRANCE

    Sarkozy visits India, Carla grabs headlines

    Read more

COMMENT(S)