India France Business Summit 2016

IAS Prelims 2023

President of France Mr. Francois Hollande paid official visit to India. He is also the Chief Guest at India’s 67th Republic Day celebrations.

This is President Hollande’s second State Visit to India and the fifth time that a French Head of State or Government has been invited as the Chief Guest on India’s Republic Day celebrations.

As a symbol of friendship and trust between the two countries, India will honour France in its 67th Republic Day Parade through the participation of a French military contingent, making France the first country to receive such an honour.

The visit takes place nine months after Prime Minister Modi’s successful visit to France in April 2015.

Both leaders attended the India-France Business Summit in Chandigarh.

At the Summit, the Prime Minister spoke at length about the complementarities between India and France, and said both countries are in fact made for each other.

The Prime Minister Modi said French companies are well invested in India. He asserted that retrospective tax was a thing of the past, and a closed chapter. He mentioned the initiatives of Mission Innovation, involving India, US and France, and the International Solar Alliance.

Following 16 MoUs and Agreements were exchanged at the India-France Business Summit in Chandigarh:

1.    MoU between AFD and the Government of Maharashtra on technical cooperation in the field of sustainable urban development for development of smart city in Nagpur.
2.    MoU between AFD and The Government of the Union Territory of Chandigarh on technical cooperation in the field of sustainable urban development for development of smart city in Chandigarh.
3.    MoU between AFD and The Government of the Union Territory of Puducherry on technical cooperation in the field of sustainable development for development of smart city in Puducherry.
4.    Wind Power Development Agreement between EDF JV with SITAC RE India to jointly explore opportunities for development of wind based power project in India.
5.    MOU between EPI ltd – Dassault Systèmes in urban sector development.
6.    MOU between EPI-Egis – urban sector development.
7.    MOU between EPI- Schneider Electric – urban sector development.
8.    MOU between EPI-Thales – urban sector development.
9.    MOU between EPI-EDF – urban sector development.
10.    MOU between EPI-Alstom – urban sector development.
11.    MOU between EPI-SA CAN – urban sector development.
12.    MOU between EPI-Lumiplan ITS India Pvt Ltd – urban sector development.
13.    MOU between EPI-POMA – urban sector development.
14.    Agreement between CEA (the French Alternative Energies and Atomic Energy Commission) and Green Ventures – Solar photo voltaic projects in the Indian rural areas (Varanasi, U.P.).
15.    Agreement between CEA (the French Alternative Energies and Atomic Energy Commission) and Crompton Greaves – To explore opportunities in Solar Photo Voltaic (PV) System with storage function for Indian Airports.
16.    Mahindra-Airbus cooperation to create the new private strategic partner for helicopters within the Make in India initiative.