French investment in India reaches around 1billion Euros in 2016

French investment in India has touched between €800 million and €1 billion and created 3,50,000 jobs during last year.

In a media interaction at global innovation network NUMA on Friday, the Movement of the Enterprises of France (MEDEF) President Pierre Gattaz said France is the fifth largest investor in India.

“France and India have held strong trade ties under our respective state leaders for more than two decades. We are exploring new opportunities in emerging areas where high-end technologies and capabilities are involved,” he said.

Gattaz is leading a 60-member French delegation comprising small and medium enterprises (SMEs) and some of the leading corporations of France to India. MEDEF is the largest employer federation of France representing over 800,000 member companies.

MEDEF President said right now India has 550 companies of French origin and 100 of them are small enterprises. “The power of business is to create jobs, motivate people, make people and companies rich. Both in India and France business is accepted via innovation and product quality,” he said.

The French delegation also visited New Delhi and Mumbai as part of the three day tour. “We believe to be a true partner in Make In India initiatives and and find more opportunities in Digital India and Smart City,” said Gattaz. 

He also said the French companies are ready to engage with various states of India. “We are ready to hold meeting with each states and with trade bodies like FICCI and CII,” he said.

Talking to DH, French Consul General Francois Gautier said the visit marks the pre-cursor to French President Emmanuel Macron’s official state visit to India later this year.

“The French companies are finding more opportunities in agri-tech, water tech, clean tech, energy, digital. We are expecting more SMEs to come to India and set up shop in Bengaluru also,” said Gautier.