Asserting that India-Monaco ties are doing well, President Ram Nath Kovind Tuesday said the two nations need to prioritise areas like renewable energy and climate change for mutual benefit, according to an official statement.

Welcoming Prince Albert II of Monaco, who had called on Kovind at Rashtrapati Bhavan, the President said that India and Monaco have always enjoyed a relationship of trust, friendship and mutually beneficial cooperation.

The current visit imparts a strong impetus towards taking the relationship to newer heights, he said.

The President said that India-Monaco ties are doing well.

"However, there is scope to do a lot more together. On issues such as renewable energy, climate change and the environment, there is a strong meeting of minds between us. We must prioritise these areas for bilateral cooperation," Kovind was quoted as having said in the statement issued by his office.

The President said India is the fastest growing major economy in the world. "Monaco's technology and investment companies can significantly benefit from the Indian growth story," Kovind said.

Later, the President hosted a lunch for the Prince and his accompanying delegation.

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