India and France have agreed to work together on the joint production of defence equipment including helicopters and submarines for the Indian armed forces and production for friendly countries, New Delhi said.
The deal was reached during a visit by French President Emmanuel Macron, who met Prime Minister Narendra Modi and attended a state banquet hosted by President Droupadi Murmu, the government said in a statement late on Friday January 26.
Macron and Modi agreed to expand bilateral ties in defence production, nuclear energy, space research and the use of artificial intelligence for public services like climate change, health and agriculture, the statement said.
It did not specify the value of any deals.
After Russia, France is the largest arms supplier to India, which has relied on its fighter jets for four decades.
The leaders welcomed the setting up of maintenance, repair and overhaul services by France's Safran for leading-edge aviation propulsion (LEAP) engines in India and adding such services for Rafale engines, and a helicopter partnership.
The bilateral summit during Macron's 40-hour visit, was the fifth Macron-Modi meeting since May.
India's Tata Group and France's Airbus have signed an agreement to manufacture civilian helicopters together, Indian Foreign Secretary Vinay Kwatra said.
French jet engine maker CFM International also announced an agreement with India’s Akasa Air to buy more than 300 of its LEAP-1B engines to power 150 Boeing 737 MAX aircraft.
Akasa Air previously ordered 76 aircraft powered by the engine, of which 22 are in use.
India and France agreed to intensify cooperation in the southwest Indian Ocean, building on joint surveillance missions carried out from the French island territory of La Reunion in 2020 and 2022, the government statement said.
Macron also said France would create conditions to attract up to 30,000 Indian students a year for higher education.
(Edited by : Priyanka Deshpande)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
