This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise.

India and France plan to work together on developing small modular nuclear reactors, India's foreign ministry said after Prime Minister Narendra Modi's visit to the country. Modi and French President Emmanuel Macron emphasised the importance of nuclear energy for "strengthening energy security" and transitioning towards a "low-carbon economy".

India and France have added a new dimension to their partnership in the area of civil nuclear energy by declaration of intent on establishment of partnership on advanced modular reactors and small modular reactors.