PM Narendra Modi's France visit to see UPI launch, clean energy on the table
New Delhi : Prime Minister Narendra Modi's visit to France is set to mark a significant milestone in the bilateral relationship between India and France. While defence cooperation remains a primary focus, both countries are poised to strengthen their collaboration in various sectors, including the digital economy, manufacturing, and clean energy. Notably, discussions regarding the 9900 MW Jaitapur nuclear plant in Maharashtra will be of utmost importance.
To further bolster ties, the India-France CEOs Forum, which had been dormant for five years, has been revived. The Forum is scheduled to convene on July 14 at the Quai d'Orsay, the Ministry of Foreign Affairs' office, with the participation of 10-12 corporate leaders from both sides. The Indian delegation will be co-chaired by Hari Bhartia, co-chairman of the Jubilant Bhartia Group, while the French side will be led by Paul Hermelin, Chairman of Information Technology firm Capgemini SE. Hermelin has been designated by the French Government as the focal point for business and trade with India. Capgemini, with a workforce of approximately 200,000 employees in India, plans to establish a 6G laboratory in Pune.
The bilateral trade between India and France has witnessed significant growth, doubling from 2014 to reach 14 billion Euros, with India holding the advantage. Acknowledging this, the two countries are currently engaged in discussions to potentially introduce the digital payment technology Unified Payments Interface (UPI) in France. If successful, France would become the first European nation to adopt UPI. NPCI, the company behind UPI, has collaborated with France's Lyra for the past year, and if all agreements are finalized in time, Prime Minister Modi is expected to launch the UPI linkage from a prominent location in Paris.
Clean energy will also be a major focus during Prime Minister Modi's visit, building on his previous initiatives in the field. It was in Paris that he launched the International Solar Alliance in 2015, which now boasts 100 member countries. The current discussions will center around green hydrogen, renewables, batteries, and small modular reactors. Progress has also been made in the 1650x6 MW Jaitapur Nuclear Power Project, with both sides actively engaged in technical discussions regarding the 8000-page techno-commercial offer presented by France in 2019. The fruition of these discussions is anticipated to lead to the establishment of the plant, contributing to the bilateral clean energy initiative.
