India, Feb. 6 -- India and Monaco on Tuesday vowed to deepen ties in trade and investment, as well as collaborate on combating climate change, after Prime Minister Narendra Modi held wide-ranging talks with Monaco's reigning monarch Prince Albert II.

The head of state of Monaco, who arrived here on Monday, also held talks with President Ram Nath Kovind, who said the visit imparts a strong impetus towards taking the relationship to newer heights.

After the talks, it was announced that diplomatic visa waiver will be granted to Monaco for visiting India and officials from both sides will be working to finalise this agreement, a joint press communique on Prince Albert's visit said.

"Economic and technical cooperation are important facets of ...