India and France Seal Deals Worth Nearly $20 Billion

Strategic Insights -

Indian and French leaders have signed agreements worth nearly $20 billion during French President Nicolas Sarkozy's four-day visit. This amount is almost double the deals signed during US President Barack Obama's visit. The agreements cover various sectors, including energy, aviation, and defense.

Key Takeaways:

  • A deal between French Energy major Areva and state-run Nuclear Power Corporation of India Ltd (NPCIL) was signed for the supply of two nuclear reactors and fuel for 25 years at an estimated cost of 7 billion euros ($9.3 billion).
  • Air India and Jet Airways have agreed to lease aircraft from Airbus at an estimated cost of about $3.7 billion.
  • Michelin, a French company, has signed a deal to invest in a Tamil Nadu factory.
  • Plans are in place to upgrade India's fleet of Mirage aircraft, jointly develop a fighter jet, and produce surface-to-air missiles.
  • Areva is open to the idea of Indian public sector companies investing in its mines.
  • Areva has signed an agreement with NPCIL for the construction of two nuclear reactors and supply of fuel.
  • Areva owns uranium mines in Niger, Kazakhstan, Canada, Australia, South Africa, and Mongolia.

Statistics:

  • Deals worth nearly $20 billion were signed between India and France during French President Nicolas Sarkozy's visit.
  • The agreements are almost double the deals signed during US President Barack Obama's visit.
  • 7 billion euros ($9.3 billion) is the estimated cost of the deal between Areva and NPCIL.
  • $3.7 billion is the estimated cost of the agreement between Air India and Jet Airways to lease aircraft from Airbus.
  • 25 years is the duration of the fuel supply agreement between Areva and NPCIL.

Sources:

  • Copyright 2010 Euclid Infotech Pvt. Ltd., distributed by Contify.com - "India and France Plan Deals Worth Nearly $20 Billion"