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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 deals involve companies including Safran, Spice Jet, Suez, 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.
Indian Prime Minister Narendra Modi (R) and French President Emmanuel Macron (L) shake hands as they make a joint press statement in New Delhi on March 10, 2018.
Ludovic Marin | AFP | Getty Images
Indian Prime Minister Narendra Modi (R) and French President Emmanuel Macron (L) shake hands as they make a joint press statement in New Delhi on March 10, 2018.

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 (SEVI.PA) 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.