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France Wants India to Open Up Its Markets
Release time:2013-05-07 Source:admin Reads:
France has urged India to open up its domestic markets by eliminating the existing hurdles, which will encourage French companies to invest up to $1 billion in this country. The reason why France chooses India as their investee is for their development potential and top-class technology. Apart from labor-intensive products such as garments and printed labels, India is renowned for high-tech products as well. After opening up its domestic market, an increasing number of foreign direct investments will come to India and help it boost both domestic and foreign demand. "French companies are willing to invest up to $1 billion in India. There are always obstacles to opening markets. I am not here to interfere in the political decisions but these decisions (to open up markets) are nonetheless necessary. We are all convinced that India has a great future and we want to partake in that," French President Francois Hollande was quoted as saying in Mumbai on Friday as he wrapped up his two-day state visit to India. As one of manufacturing countries renowned of labor intensive products like printed labels, India has seen enormous increase for exports The French President, who had earlier met Prime Minister Manmohan Singh during which several pacts were inked between the two countries, also said that India, which is dramatically developing nowadays, "has the potential to grow at 10 percent" but faces "immense challenges commensurate with its size." "French businesses would like to invest more in an emerging economy like India which own rich materials and human resource to provide a number of printed labels geared to the international market demand. We pride ourselves on being one of the biggest investors here. The stock of our assets here is $17 billion and we wish to increase this investment flow by $1 billion. We are ready for it. We need help of everybody, especially the big emerging economies like India." The bilateral trade between India and France currently stands at $8 billion.

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