This is an archive article published on March 11, 2018

Economic Partnership signing ceremony: Indian, French companies sign pacts worth 13 billion euros

Airports Authority of India, too, signed an agreement with French engineering company Egis for conducting study of three airports in the country — Lucknow, Pune and Trichy.

2 min readNew DelhiMar 11, 2018 01:18 AM IST First published on: Mar 11, 2018 at 01:18 AM IST

Economic Partnership signing ceremony: Indian, French companies sign pacts worth 13 billion euros

French President Emmanuel Macron and Prime Minister Narendra Modi

Indian and French companies exchanged 19 contracts and agreements worth over 13 billion euros in sectors including new and renewable energy, smart grid, nuclear energy, aviation, cement, telecom among others. The agreements were formalised at the Indo-French Economic Partnership signing ceremony here on Saturday in the context of French President Emmanuel Macron’s visit to India.

The biggest deals signed on Saturday, in terms of value, was from the civil aviation sector, where low-cost carrier SpiceJet inked a $12.5-billion (around 10.5-billion euro) agreement with French aviation major Safran Group for supply of 155 CFM LEAP-1B engines for the airline’s Boeing 737 MAX aircraft, along with spare engines to support the fleet. Safran also announced its eighth facility in India at Hyderabad, with 250 employees, for production of harnesses used in civil and military aerospace applications, for both local and foreign programs.