New Delhi, Feb 5 : Prime Minister Narendra Modi on Tuesday held talks with Monaco's ruler, Prince Albert II, with the two exchanging views on enhancing cooperation, especially in environment and climate change and renewable energy.
Prince Albert, who is on his first official visit to India, met the Prime Minister at Hyderabad House here and the two leaders agreed identified infrastructure as an area with vast potential to establish linkages.
They agreed that India's rapid economic growth offers an enhanced investment opportunity for companies from Monaco in various sectors and there is also scope for business cooperation.
It was also announced that a visa waiver will be granted to Monaco diplomat passport holders for visiting India and the officials from both sides will be working to finalise this agreement.
External Affairs Ministry spokesperson Raveesh Kumar said that there was "a good exchange of views on enhancing cooperation, especially in environment and climate change and renewable energy through sharing best practices".
He said that India and Monaco established diplomatic relations in 2007, though the friendship goes back much further in time.
The two leaders discussed ways to expand the multi-faceted partnership in areas of mutual interest.
"During the discussions, it was agreed that there is a vast potential for establishing linkages especially in the mutually beneficial area of infrastructure development," said a joint press communique after the meeting.
It said that India and Monaco have shared interest in tackling climate change and use of ocean resources along with commitment for sustainable growth.
"The visit also demonstrated willingness of both sides to step up cooperation in renewable energy, urban affairs (including smart cities) environment and climate issues," it said.
External Affairs Minister Sushma Swaraj called on the visiting leader, while President Ram Nath Kovind hosted a lunch in his honour.