You are here: Home » Economy & Policy » News
Business Standard

France will partner India to build three 'smart' cities

Komal Amit Gera  |  Chandigarh 

France will partner India to build three 'smart' cities

France will help India develop Chandigarh, Nagpur and Puducherry as smart cities. Agence Française de Developpement (French Development Agency) signed memoranda of understanding with the government of Union territory of Chandigarh, and government of Union territory of Puducherry and the Maharashtra government here on Sunday in the presence of French President Francois Hollande and Prime Minister Narendra Modi.

Chandigarh, designed by the French architect Le Corbusier half a century ago as a model city, is spread across 114 sq km and the urban infrastructure and green belt of the city provide it a distinguished status among India's planned cities.

On January 26, Modi is set to announce the official list of 20 smart cities to be developed in the first phase.

A delegation of 26 CEOs from France travelled to Chandigarh with Hollande and had discussions on CEO forums to explore partnerships in renewable energy, defence, information technology and aerospace.

Modi said French companies can exploit India's trained and affordable manpower to expand their manufacturing operations in the country. The French president committed annual investment to the tune of €1 billion to strengthen business relations with India.

An agreement between Airbus and Mahindra was also inked under Indo-French cooperation to manufacture helicopters within the Make in India initiative.

French companies will also collaborate with public sector firm Engineering Projects India to provide integrated railways solutions. The railway stations of Ambala and Ludhiana will also be redeveloped with French partnership.

The French delegation evinced interest in the areas of renewable energy, infrastructure, transport, defence, and water treatment.

OTHER PROMISES & PACTS
  • Prime Minister Narendra Modi says controversial retrospective taxation a thing of the past; this chapter will never be opened again in India, he tells investors, assuring them of predictability in the tax regime
  • French President Francois Hollande says will discuss with Prime Minister Narendra Modi the inter-governmental agreement on 36 Rafale fighter planes
  • Mahindra Defence and Airbus Helicopters signs pact to form a joint venture to produce military helicopters in India; statement of intent signed by representatives of both companies
  • Memoranda of Understanding in urban development, urban transport, water and waste treatment and solar energy
  • Pact for joint venture between Indian SITAC group and EDF Energie Nouvelles to acquire 50 per cent stake in its renewable energy business in Gujarat
  • Anil Ambani-led Reliance Entertainment in partnership with France-based Julie Gayet's Rouge International and Elisa Soussan's myFamily to produce actor Serge Hazanavicius' movie n0mber 0ne

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, January 25 2016. 00:22 IST
RECOMMENDED FOR YOU
.