India, France boost trade by investing in energy sectors
NEW DELHI: India and France today pledged to double bilateral trade to euro 12 billion (about USD 16 billion) by 2012 by stepping up cooperation and investment in sectors like energy, water and infrastructure.
"President Nicolas Sarkozy and I have renewed our determination to achieve the (bilateral) trade target of 12 billion Euros by 2012," Prime Minister Manmohan Singh said in a statement after at a joint press conference here.
The bilateral trade between the two countries was over 6 billion Euros during 2009-10. "We will examine their (IndiaFrance CEOs Forum) recommendations on increasing investments in energy, water and infrastructure sectors, establishment of joint ventures in third countries, and enhancing collaboration in areas of research and development and higher education," Singh further said.
In a joint statement issued later, the two countries welcomed the private sector involvement in boosting bilateral trade and cross investment in sectors like automobiles, electrical equipments, rail transport and water utilities.
It said that France and India recognised the importance of agriculture and food processing sector for ensuring affordable food production in both the countries.
In his statement, Singh said India would work closely with France to push forward the global economic recovery and better regulation of the international financial sector.
Largde said the French Government will fund, along with the World Bank, a feasibility study of cleaning the holy river Ganga. -PB News