France ranks as most attractive country in Europe for FDI
India Education Diary , Nov 13, 2020
HE Mr Emmanuel Lenain, Ambassador of France to India on Monday invited Indian companies to explore investment opportunities in France, assuring the industry of the French government’s support.
Addressing a virtual session, ‘Invest in France: the first destination for FDI in Europe’, organized by FICCI and Business France, Ambassador Lenain said that France is back to business with 100 billion euros allotted for the French recovery plan to help both French and foreign companies bounce back.
“This is a good time to invest in France as Indian companies will get exceptional support from the French government, the Embassy of France, Business France, and other stakeholders to invest in the country,” he assured.
Ambassador Lenain stated that with all the measures announced by the French government and in the context of Brexit, France will cement its leading position in Europe for FDI. “Last year, France ranked number one in terms of attracting investments in Europe, ahead of UK and Germany, for the first time in history. We wish to welcome many more foreign and Indian companies in France and are here, as Team France, to provide them with a soft landing,” the Ambassador explained.
Ambassador Lenain also highlighted that India and France share strong bilateral political and economic relations based on mutual trust. Thus, the two countries helped each other during COVID-19 times in particular by supplying medical drugs and equipment.
Dr Sangita Reddy, President, FICCI said, “India and France have agreed to expand the scope of existing regular bilateral joint exercises and develop strongly on a long-term perspective. France not only attracts multi-sectoral conglomerates and big groups but also mid-sized companies. Indian investments are mainly made in the software and IT services sector, while the pharma and bio-technologies sector are responsible for nearly 30 per cent of jobs generated by Indian investments.”
She further added that unfolding of the digital revolution is at the top of the bilateral agenda in areas like AI, digital security, and towards an inclusive, transparent, and open digital movement. India as an innovation sandbox and France as a pro-active dominant player globally, we can together boost our relationship, she emphasized.
Mr Vivek Chaand Sehgal, Chairman, Motherson Group said that the group is planning to collaborate further with French companies to invest in the aerospace sector. He added that Motherson has acquired two automotive companies in France and is currently the first Indian employer in France.
Mr Madhav Kejriwal, VP Worldwide & CEO Europe, Electrosteel Castings Ltd highlighted that France acts as an important gateway for Europe and Africa.
Mr Mark O’Connell, Founder & CEO, OCO Global said that Indian investment in France is growing significantly and healthcare and health services are important sectors to explore.
Mr Wiliam De Vijlder, Group Chief Economist, BNP Paribas said that the French recovery plan will not only impact the economic recovery but support the long-term economic prospects.
Mr Andre-Paul Leclercq, President, Economic Commission of Hauts-de-France Region; Mr Yann Pitollet, CEO, Nord France Invest; Mr Franck Margain, Councillor, Ile-de-France Regional Council & President, Choose Paris Region; Mr Lionel Grotto, CEO, Choose Paris Region; Mr Matthieu Vis, Head International & Strategy, Provence Promotion, Grand Port Maritime de Marseille; Mr Philippe Guillaumet, European & International Projects Manager, Grand Port Maritime de Marseille & General Secretary of MEDports; Ms Lynda LEE MOW SIM, Regional Councillor Indian Ocean Relations, Reunion Island Regional Council; Mr Benoit Charriere-Bournazel, Partner, DS Avocats; Mr Pankaj Walia, Partner, SN Dhawan & CO LLP; Ms Alisa Sakic, Head, Welcome Office, Business France; Ms Fiona Mougenot, Managing Director, Expat Partners, also shared their perspective on India-France investment opportunities.