Hollande meets Indian leaders in New Delhi
January 25, 2016, 6:04 am

French President Francois Hollande with Indian President Pranab Mukherjee (left) and Indian Prime Minister Narendra Modi in New Delhi on 25 January 2016 [Image: MEA, India]

Hollande will hold formal talks with Indian Prime Minister Narendra Modi on Monday. Modi and Hollande will aim at ironing out differences over a plan for French nuclear company Areva to build six reactors in western India.

Global suppliers, including those from US and France, are concerned about the liability clause of India’s nuclear law.

India’s Civil Liability for Nuclear Damage Act (CLNDA) of 2010 empowers victims of any future nuclear accident to sue foreign suppliers for huge potential liability, which is holding back companies from doing business with India.

India has launched a nuclear insurance pool to address nuclear suppliers’ concerns over liability.

Reuters quoted French officials at Areva on Sunday saying they need to look at details of the insurance cover.

The French leader will be the guest of honour at India’s Republic Day parade on Tuesday. US President Barack Obama had attended the event last year.

At a time when the French government is focusing on security in the wake of the deadly Islamist attacks of early and late 2015, the two countries will work on strengthening anti-terror cooperation, officials said.

At the India-France Business summit in the northern Indian city of Chandigarh on Sunday, a slew of cooperation agreements were signed to explore urban development and solar and wind power projects, the Indian Foreign Ministry said.

Nuclear trade, Modi’s “Make in India” initiative, and wooing French investment will be high on the agenda of the Indian Prime Minister’s office.

Modi on Sunday said India will also seek French investment to upgrade of its rail system, waterways and mass transit systems planned for 50 cities.

Official statistics, however, show the euro-area recovery remains uneven, still plagued by falling prices and high unemployment.

France was one of just a few EU countries where the jobless rate had not fallen last year.

TBP