Aus, India deals boost French arms sales to record 20 bn euros

French weapons sales hit a record high of more than 20 billion euros (USD 21.33 billion) in 2016 after submarine contracts in Australia and fighter jet sales to India, France's defence minister said.

"In 2015, we hit our historical exports figure of 17 billion euros," Jean-Yves Le Drian said in a New Year's speech to defence officials late on Thursday.

"For 2016, the total is not yet tallied, but I can say that thanks to the Australia contract, we have reached a new summit with more than 20 billion euros in sales."

Australia and France formally sealed an agreement on December under which French naval contractor DCNS will build a new fleet of 12 submarines, a deal that could ultimately be worth USD 38 billion.