France and India on Monday vowed to root out terrorism with greater intelligence sharing, robust unity and stronger international partnership and concerted action. France also committed $10 billion investments over the next five years.
In an unprecedented move, both sides agreed to issue a separate joint statement only on the issue of counter-terrorism. This comes in the wake of both countries witnessing terrorist attacks on their soil in Paris and Pathankot.
“Agreeing on the imperative of having a comprehensive approach to address terrorism, India and France resolved to step up their bilateral cooperation, under the supervision of annual strategic dialogues and joint working group on counter-terrorism meetings, to counter violent extremism and radicalization, disrupt recruitment, terrorist movements and flow of Foreign Terrorist Fighters, stop sources of terrorist financing, dismantle terrorist infrastructure and prevent supply of arms to terrorists,” the joint statement said, which was issued after the bilateral meet between French President François Hollande and Prime Minister Narendra Modi.
Both leaders asked for decisive actions to be taken against Lashkar-e-Tayibba, Jaish-e-Mohammad, Hizb-ul-Mujahideen, Haqqani Network and other terrorist groups such as Al Qaeda.
Investments
Both sides also decided to boost bilateral defence, nuclear energy and trade ties by taking it to the next level with France pledging $10 billion in next five years.
“Over the last five years, French companies have invested more than $1 billion per year in India. We estimate that they will continue to invest at least $10 billion over the next five years," French Finance Minister Michel Sapin said here in his address to the Federation of Indian Chambers of Commerce and Industry (FICCI).
Defence Ties
Both sides signed a Memorandum of Understanding (MoU) to buy 36 Rafale fighter jets from France’s Dassault Aviation. However, both leaders hoped that financial issues relating to the deal get resolved “as soon as possible,” stated another joint statement.
“We hope that French companies would be among the leading companies to take advantage of the Make In India campaign where defence is concerned. And their response has been encouraging,” said Foreign Secretary S. Jaishankar.
The two sides agreed that the Agreement on Defence Cooperation will be extended for another ten years.
Both leaders also stressed the importance of joint military exercises such as the Garuda in June 2014, Varuna in April 2015 and Shakti exercise held this month.
Civil Nuclear Cooperation
Both sides noted the signing of the deal to build six nuclear reactors from the original two reactors as per a revised MoU between French utility major EDF, which has acquired Areva’s reactor business, and state-owned Nuclear Power Corporation of India Ltd. (NPCIL).
“We have agreed that at Jaitapur we will collaborate to construct six nuclear power reactors. The earlier understanding was for two,” Jaishankar said.
According to the joint statement, France welcomed India’s decision to ratify the Convention on Supplementary Compensation for Nuclear Damage.
Climate Change
The French committed 300 million Euros for facilitation projects in International Solar Alliance (ISA). In this aspect, both leaders inaugurated an interim secretariat of the ISA in Gurgaon, near New Delhi.
Infrastructure
Both leaders welcomed the follow-up Agreement signed in December 2015 between the SNCF and Ministry of Railways to support a semi high-speed project for up-gradation of Delhi-Chandigarh line to 200 kmph.