The Union Cabinet was informed of the signing of the agreement between India and France on Wednesday to ensure exchange of best practices and technology.
The Cabinet meeting was chaired by Prime Minister Narendra Modi.
According to a release, a Memorandum of Understanding (MoU) of Cooperation will be signed between Technology Development Board (TDB), India, and Bpifrance, a public investment bank of France.
“The agreement will ensure exchange of best practices and setting up of coordinated measures to foster technological exchanges in the field of science, technology and innovation through collaboration between companies, organisations and institutions of France and India,” read a release.
TDB, which comes under the Department of Science & Technology, has been constituted to promote development and commercialisation of indigenous technology and adaptation of imported technology for a wider application.
As per the release, this agreement is aimed at carrying out activities related to exchange of best practices in the field of science & technology through the TDB and Bpifrance.