A "Joint Strategic Vision of India-France Cooperation in the Indian Ocean Region" was also agreed upon by both countries in order to maintain the safety of global sea lanes for unimpeded commerce and communications in accordance with the worldwide law, for countering maritime terrorism and piracy, for building maritime domain awareness, for capacity building and for greater coordination in regional/international fora in the region.
On Sunday, Modi and French President Emmanuel Macron will co-chair the founding conference of the India-initiated ISA which was launched by Modi and then French President Francois Hollande during the Paris climate summit in 2015.
China's territorial ambitions in the South China Sea already worry world powers.
Sunday's conference will be attended by 23 of those who have submitted the instruments of ratification and 24 of those who have signed the framework agreement.
"In order to further strengthen global non-proliferation, France reaffirmed its strong and active support to building consensus among regimes' members on the issue of India's membership of the Nuclear Suppliers Group, recognising that India's accession will add value to the aims and objectives of these regimes", the joint statement said.
A so-called "Industrial Way Forward Agreement" was signed between French utility EDF and India's NPCIL for the construction of six nuclear reactors at Jaitapur. But the project has since run into stiff opposition from environmentalists concerned about seismic activity and the safety of nuclear power following the Fukushima nuclear disaster in Japan.
After his arrival in India, Macron also talked about his personal relations with Indian PM Modi. Defence cooperation between the two countries now has a new significance, the French President said.
Daylight saving time begins Sunday
Teams making visits to homes will share fire safety and preparedness information and install smoke alarms in homes as requested. Fulton County Fire Coordinator Steven Santa Maria is asking everyone to get ready to spring forward for daylight saving time.
Departing from protocol, PM Modi received Macron at the airport on Friday night in a special gesture.
However, while Modi sought greater French investment in the country's defence sector, India has not agreed to buy additional Rafale fighter jets for the Indian Air Force manufactured by French aerospace giant Dassault Aviation, sources told BusinessLine.
"You welcomed me in Paris previous year with an open heart and a lot of warmth".
The French President stated that the visit will open a new era of strategic partnership in the coming decades. "India and France have chose to work together to deal with threats of terrorism and radicalisation", Macron said after having talks with Modi.
Both he and Mr Macron are often compared internationally due to their broadly similar political views, as well as youth and good looks.
He was pilloried on social media and in the Canadian press for donning traditional Indian clothing at every opportunity.
And there were red faces when it emerged a former Sikh militant was invited to a dinner with him in Mumbai.