India and France today signed two agreements to enhance business ties. Under the agreement French Tyre Company Michelin Tyres will invest one billion US Dollar to set up a production unit in Tamil Nadu. A Memorandum of Understanding was signed for the same between Michelin Tyres and the Government of Tamil Nadu in New Delhi. Another MoU was signed between Invest India and Invest in France to promote two way flow of investment between the two countries. Briefing reporters after signing of the agreements, Commerce and Industry minister Anand Sharma said trade between the two countries will cross eight billion US Dollar mark by the year end. He added that aerospace, Infrastructure, Pharmaceuticals, Information and Communication technology, research and development are major areas of cooperation apart from Civil Nuclear Energy and Renewable Energy. French Minister of Economy and Finance, Christine Lagarde emphasised on the importance of transfer of technology between the two nations along with extending support for development of Small and Medium Enterprises.