France invites Indian investments, including acquisitions

Mumbai: France has invited investments from India with a promise of helping companies to set up business there, including through acquisitions.

"If the Indian companies want to be global players, they cannot ignore Europe...We are well located in Europe and will welcome Indian investments," Philippe Favre, chairman and CEO of Invest In France Agency (IFA), said.

He said France was looking for investments from India in all sectors and that the conditions, including tax and visa regimes, were favourable for this.

France, he said, has "better infrastructure and research and development facilities than in the UK."

France would also provide them access to European markets, their distribution networks, brands, technologies and expertise, Favre said.

Paris views last year''s acquisition of European major Arcelor Steel by Mittal Steel, owned by India-born L N Mittal, as a successful example which can be replicated in France, the state-run agency said.

The IFA, tasked with projecting France as a land of opportunities with favourable conditions and attracting overseas business, has identified 300 Indian companies, mainly in IT and pharma sectors, as prospective investors in the country.

The agency has recently set up an office in India, and plans to launch vigorous campaigns to tap investment from the emerging economy.