India and France signed a pact to expedite the Jaitapur nuclear power plant project and aim to begin work at the site by the year end.

Prime Minister Narendra Modi and French President Emmanuel Macron encouraged the Nuclear Power Corporation of India Ltd (NPCIL) and EDF France to accelerate the contractual discussions for the project as they emphasised on the need for the project to generate cost-effective electricity, remain economical and competitive financing package from the French side with reliable, uninterrupted and continued access to guaranteed fuel supply for the lifetime of the power plant.

They also asserted that they would further their collaboration on transfer of technology and cost-effective localisation efforts of manufacturing in India.

The EDF and the NPCIL is yet to agree on the cost per unit and the credit aspect, which France will give to India for building the plant in Maharashtra.

Apart from defence and space, nuclear energy is a key component of the Indo-French strategic partnership.