In­dia, France boost trade by in­vest­ing in en­ergy sec­tors

The Pak Banker - - Company& -

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

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