The Hindu Business Line : France woos more Indian investors

FRANCE, which has over the past two to three years rolled out incentives to attract foreign investors, is now wooing Indian corporates to make investments in the country.

The last few years have already seen a significant increase in Indian companies foraying into France through acquisitions or opening of overseas offices.

The President of the Invest in France Agency, Ms Clara Gaymard, who is on her second visit to India, points out that many Indian pharmaceutical, auto component, information technology, and biotech companies have already made investments in France. Among the most recent investments is by Span Diagnostics, which is acquiring its supplier BIOSYS in Compiegne.

Further, a large Indian media group is also in talks to set up a representative office in the country. Ms Gaymard added that investments were invited not only from big businesses, but also from smaller businesses, which would benefit by having a presence in the country.

To enable Indian businesses to set up operations in France, the Invest in France Agency opened its India office last year.

"France is not only about good food, wine and hi-fashion. It is a very hi-tech country offering hi-tech facilities. In fact, in almost all the key sectors, a French company would be present among the top five companies. Further, at present, there are about 16,000 foreign companies based out of France, with one out of three people in the country working for a foreign firm," Ms Gaymard said.

France has over the last few years carried out policy reforms that would benefit foreign investors.

These include exemption of tax on personal income, an aggressive policy on research and development funding and reforms in the business tax system.