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European companies in the past decade have emerged as the largest group of foreign investors in India, a recent study by the Europe India Chamber of Commerce (EICC) has said.
Firms from the European Union had invested $198 billion in the country during the ten-year period between 2004 and 2013. In the same period, Japanese and US firms invested $138 billion and $50.7 billion, respectively, into India.
“This gives EU enterprises the distinction of being the largest inbound investor into India. EU firms have spent $118 billion on 2,566 Greenfield projects. EU companies also acquired interests in 1,442 companies for $80 billion,” EICC study said.
Titled ‘European Companies in India: Reigniting Economic Growth’, the report is the first pan-European study of its kind.
“Tactical Greenfield investments, landmark acquisitions and steadfast dedication through uncertain economic cycles have been the key ingredients of the success enjoyed by European companies in India,” said Sunil Prasad, Secretary General of EICC.
“The study finds that despite the challenges facing the Indian economy, EU firms are optimistic about the next five years. The common consensus is that the next government would usher in a fresh round of growth,” Prasad added.
The study shows that EU companies collectively provide direct employment to 15 lakh. Of this, about 5,62,335 new jobs were added in the last 10 years alone through the Greenfield route.
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