France invites investment from India, open to acquisitions

France invites investment from India, open to acquisitions

Paris: Projecting itself as a land of opportunities with favourable conditions, France has invited investments from India with a promise of helping companies to set up business here, including through acquisitions.

Paris views last year’s acquisition of European major Arcelor Steel by Mittal Steel of India-born L.N. Mittal as a successful example which can be replicated in France.

Government-run Invest In France Agency (IFA), tasked with attracting overseas business, has identified 300 Indian companies, mainly in IT and pharma sectors, as prospective investors in this country and plans to launch vigorous campaigns to tap these.

The Agency has recently set up an office in India to attract investments here from the “emerging economy".

“If the Indian companies want to be global players, they cannot ignore Europe...We are well located in Europe and will welcome Indian investments," IFA Chairman and CEO Philippe Favre told a group of Indian journalists here.

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

He insisted that there were immense opportunities for Indian investment in France and cited “better infrastructure and Research and Development facilities here than in the UK" to press his contention.

The investments by Indian companies in France would provide them access to European markets, their distribution networks, brands, technologies and expertise, said Favre, the French Ambassador for international investment.