India’s FDI flows to EU may reach $25 bn in 2007

India’s FDI flows to EU may reach $25 bn in 2007
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First Published: Thu, Mar 22 2007. 08 22 PM IST
Updated: Thu, Mar 22 2007. 08 22 PM IST
PTI
New Delhi: The Foreign Direct Investment (FDI) outflow from India to the European Union (EU) can cross the $25 billion (Rs 1,12,500 crore) mark this year, according to a joint finding by two European investment bodies from France and Germany.
The trade bodies , ‘Invest in France´ and ‘Invest in Germany’ expect the FDI inflow in EU from India to rise over 56% from an estimated $16 billion in 2006.
“Indian companies are investing in Europe mainly through big acquisitions and with more number of acquisition and investment proposals coming from the Indian companies, we expect the investment figure to cross $25 billion this year,” French Ambassador for international investment and president of Invest in France Philippe Favre said.
The $25 billion figure includes over $12 billion worth of Tata-Corus deal, he said.
In France alone, 50 Indian companies are present and the number is expected to cross 70 by the end of the year, Favre said.
“We expect at least 15-20 new companies to open shops in France either through acquisitions or through subsidiaries and one each from pharma and automobile sector have almost finalised their investment plans for France,” he said.
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First Published: Thu, Mar 22 2007. 08 22 PM IST
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