France reaches out to India Inc for investment

(Image Credits: sps-aviation.com)

(Image Credits: sps-aviation.com)

New Delhi, Oct 14 (PTI) : Playing the accessibility card, French Ambassador Francois Richier today called upon Indian investors to invest in France, saying it’s “a gateway” to access the Middle-East and African markets.

“From there (France), it is easy access to the Middle-East and African markets. For Indian companies, these are the territories which would be more pleasant.

Many other companies from other countries are investing and have invested in France to the point that 30-34 per cent of the exports are made by foreign companies,“ Richier said while addressing a gathering of industrialists today.

He was speaking at a business conference on ‘France: Your Preferred Destination’ jointly organised by FICCI and the Embassy of France.

France is a leading destination for foreign investments and a hub for doing business in Africa, Richier stressed.

“French business had a strong presence in India and it’s time Indian industry explored avenues of investment in France,” he added.

He singled out the communication gap as a likely cause for lack of Indian investment in France as there is a need to highlight and depict the business and investment opportunities in France to the Indian business community.

He pointed to Indian companies such as Mahindra and Bharat Forge which are already present there and are “doing well”.

The Sintex and Sonalika groups also have a presence in the French investment sector.

“Indo-French relationship is booming and there is a positive environment for business to thrive. French companies have invested in India heavily and there is an opportunity to explore more areas for investments.

“FICCI will ensure that the communication gap which seems to hinder the business ties between India and France is bridged and the two nations are able to reach the next level of prosperity,” said Jyotsna Suri, President, FICCI.

Listing out the positives, Director of Business France Invest, Dominique Frachon, in his presentation, said France offers legal and tax security, highly qualified and productive workforce, lower set-up and operating costs than in the US, Germany and Japan and an innovative economy to its foreign investors.

To make France more competitive, he said, various reforms are under way, which include goods and services and labour market.

Frachon also spoke of the country’s world-class infrastructure, technology and creativity options.

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