Sarkozy betters Obama, strikes deals worth $20b

Dec 07, 2010 |

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New Delhi, Dec. 6: The President of France, Mr Nicolas Sarkozy, did one better than America’s Mr Barack Obama: he clinched deals worth $20 billion with India in defence, atomic energy and civil aviation, while Mr Obama left New Delhi with trade deals worth $10 billion which promised to create 50,000 new jobs in the US.

Mr Sarkozy ensured that France’s state-run nuclear agency Areva became the first foreign entity after the end of India’s nuclear isolation in 2008 to firm up pacts for the construction of new nuclear reactors in India. (Russia was already a player in the Indian nuclear industry.) In separate deals, the European aviation consortium Airbus Industrie signed lease contracts for the supply of four and ten A-330 aircraft to Air India and Jet Airways respectively, while French tyremaker Michelin signed a protocol contract to invest in a factory in Tamil Nadu.

Mr Sarkozy topped this up by bringing European defence electronics group Thales close to finalising negotiations to upgrade Mirage-2000 fighter jets in the Indian Air Force and to equip them with missiles.

While the French defence and aerospace conglomerate Safran is in advanced negotiations to jointly develop a fighter jet with India, the European missile and missile systems manufacturer MBDA was optimistic of bagging a deal to jointly develop surface-to-air missiles. The French President made the right noises by admonishing Pakistan, appreciating India’s restraint after the 26/11 attacks in Mumbai, and reiterating France’s support for India’s quest for a permanent seat in the UNSC.

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