India, France ink agreement on sustainable urban development

Last Updated: Monday, October 8, 2012 - 14:30

New Delhi: India and France inked an agreement in the field of sustainable urban development and also discussed ways to boost their economic and commercial ties, a statement said on Monday.

Union Urban Development Minister Kamal Nath and Nicole Bricq, the France`s minister for foreign trade, signed an administrative agreement in the field of sustainable urban development in Paris.

Speaking on the occasion, Nath expressed his appreciation for the work in the field of sustainable urban development carried out in France and felt that India could benefit immensely from the French experience.

Earlier, Nath and Bricq expressed satisfaction at the maturity reached in the strategic relations between India and France and also discussed ways to enhance their economic and commercial relations.

Nath briefed the French minister about the recent decisions India has taken to further liberalise Foreign Direct Investment (FDI) regulations and reiterated the government`s commitment to continuing with liberalisation of the Indian economy.

Nath said both countries would benefit from the agreement as it would provide an enabling platform for officials, professionals, business leaders and local self-governing bodies to meet and share knowledge and best practices in the urban sector.

He expressed hope the agreement would lead to enhanced cooperation and deepen the engagement between the two countries. He invited international firms, including French firms, to participate in the process of making cities greener and more sustainable.

The implementation of the agreement will take place under the aegis of the Indo-French Joint Working Group on Urban Development comprising representatives from the Ministry of Urban Development (India) and the Ministry of Regional Equality & Housing and the Ministry of Ecology, Sustainable Development & Energy (France).

IANS



First Published: Monday, October 8, 2012 - 14:30

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