Bilateral trade agreements between France and India to promote versatile sectors

France and India recently signed the bilateral trade agreements to accelerate the investments in energy in various sectors such as the water, infrastructure and energy.  The France president Nicolas Sarkozy said roughly 16 billion USD is furnished to achieve the bilateral trade targets and the government of both the countries gave nearly eight billion USD each. Prime minister of India, Dr. Manmohan Singh articulated that, the committee between the India and France examines the recommendations to increase the investments in energy, enhancement of the infrastructure and they are ready to combine with third country to increase the energy investments for the joint venture. The two countries welcome the involvement of the private sectors, to produce energy investments in electrical equipments, railways and transport sector. France and India currently is concentrating on the food processing and agricultural sector since both the countries are aware of the importance of these two industries. Dr. Manmohan Singh also mentioned that, both nations will work united to recover from the global financial crisis and ameliorate the universal financial sector.

Christine Lagarde, the Minister of finance in France and Anand Sharma, the Commerce and Industry minister of India declared that, the business titans in both the nations are examining the versatile areas such as the renewable energy, aerospace and infrastructure.  The World Bank and the French Government will allocate energy investments to clean up the holy river Ganga in India and more than 700 French companies have employed more than two lakh people for operation. Anil Agarwal, the Chairperson of the Vedanta Resources Plc announced that, the company accomplishes the deal with Cairn India and this attracts great deal of investments in energy. Vedanta Resources, London based company has agreed to pay around 9.6 billion USD for Cairn India Ltd to acquire the largest oil fields in the Rajasthan region and these oil wells are expected to produce nearly 6.25 million tons of crude oil per year.

Anil Agarwal declared that, the large number of capitalists and stock holders are showing great zeal to furnish energy investments in India and all the investors believe this venture will turnout as a successful deal. He also wished the government of India should promote the transfer of Indian assets to the owners and this will improve the oil sector of the nation. Cairn mentioned one of its subsidiaries is interested to produce three blocks; these three blocks have been banned by the government, in the oil explorer application. Oil and Natural Gas Corporation will be joining hands with the Cairn in the three oil exploring ventures and expects to have the preemption rights over the Vedanta deal.