Chandigarh, Jan 24 (IANS): As the fastest growing big economy in the world, India has both the skilled workforce to produce as well be the market for French products, Prime Minister Narendra Modi said on Sunday.

"India is the fastest growing economy in the world. We have the labour and the market for your products," Modi said at the India-France chief executives meeting here along with visiting French President Francois Hollande, according to a tweet by external affairs ministry spokesman Vikas Swarup.

"I've had the opportunity of meeting President @fhollande five times in the last year," Modi said according to another tweet by Swarup.

Modi earlier met Hollande at the Rock Garden here in the city created by French architect Le Corbusier, after the latter's arrival here on a three-day official visit to India.

"Glad to welcome @fhollande in the city built by the great Le Corbusier. PM @narendramodi addresses the CEO's Forum," Swarup said in a separate tweet.

During Hollande's visit, France is likely to sign a memorandum of understanding with Chandigarh to help it develop as a smart city, official sources said.

France has committed to help three Indian cities - Chandigarh, Nagpur and Puducherry - to develop as smart cities.

"Defence, green economy, smart cities, infrastructure, transportation, water and financial sector on the agenda of the Indo-French CEO's Forum," Swarup tweeted earlier.