French cos to pump in euro 8 bn in India

PTI

Bullish on India's growth, major French companies will be investing about euro 8 billion in the country in next few years.

"Leading French companies will invest some 8 billion euros in Indian market over the few years," French Ambassador to India Alexandre Ziegler said on the sidelines of a CII event here today.

French majors had already invested euro 20 billion in the country accounting for the third largest FDI inflow from the European country.

In his presentation, the ambassador emphasised that France did not look at India as just a market but as a partner and so it participates strongly in 'Make in India' along with innovation.

"There is 25 research and development centers by French companies in India," Ziegler said.

West Bengal has, however, failed to attract French investment in a big way so far and accounts for just four per cent of total French FDI in India, he said and hoped that more companies from his country will find interest in the state.

Many French companies are likely to participate in the Biswa Bangla summit early next year, he informed.

Ziegler said though the discussion was fruitful no policy-related matters were discussed.

Replying to a question on safety, Ziegler said security matter is a global concern but France has taken all measures to protect its people.

Ziegler, who is here on his 3-day visit till August 20 also met state Finance Minister Amit Mitra.