New Delhi, March 23 (IANS) India can look forward to $5 billion in investment from France in insurance in light of the hike in the ceiling of foreign equity in the sector to 49 percent, French Ambassador Francois Richier said on Monday.
French investment flows into India in 2014 were comparable with those into China, Richier said at an interactive session here between chief executives of French companies in India and government officials organised by the French embassy and the Federation of Indian Chambers of Commerce and Industry (FICCI) ahead of Prime Minister Narendra Modi's visit to France next month.
"When you compare the share of French FDI (foreign direct investment), India receives 6 percent whereas China receives 7 percent as of 2014. This shows that while China has GDP four times greater than India, the French investment is roughly the same. There is far more attraction to India than China due to the large market, wonderful workforce and cultural connection," Richier said.
Amitabh Kant, secretary in the Department of Industrial Policy and Promotion, said there was a new vibrancy and dynamism in India with the government determined to ease the process of doing business.
"For setting up business, we have shortened procedures and cut down on the number of days. Our objective is that over a period of time, we can link up all the state and central governments so that India becomes an easy place to do business," he said.
Modi is scheduled to be in France on April 9-12 and in Germany on April 12-14.
Currently, over 950 French companies are present in India and employ more than 300,000 skilled local staff.
France is also one of the top foreign investors in India, with the latter receiving about $4.4 billion in FDI on this count between April 2000 and November 2014.
Haryana Budget Session: The Saini government will present the budget on the 17th, Congress MLAs will participate in the session without a leader
The budget session of Chief Minister Naib Singh Saini government is starting from Friday, March 7. The first day of the budget session will begin with the Governor's address. Governor Bandaru
RBI will transfer surplus amount of 99,122 crore rupees to the central government, RBI board approves
The Central Board of the Reserve Bank of India (RBI) on Friday gave its approval to the proposal to transfer a surplus amount of 99,122 crore rupees to the Central Government. A statement issued by
Masterplan to surround China all-around in Quad meeting, Modi, Suga, and Morrison will meet Biden
Washington
International Women's Day 2022: Salute to women power, only 80 lakh women out of 60 million entrepreneurs of the country..!
There are ample reasons to view Indian women as a forceful intervention in the emerging landscape of New India. Women related rules, laws, constitutional provisions, media, government policies and
Why did Rishabh Pant not come out to bat in the match against KKR? LSG captain himself told the reason
Lucknow Super Giants defeated KKR by 4 runs in a thrilling match played on 8 April. In this match, many decisions of Lucknow Super Giants team captain Rishabh Pant proved useful for the team. Pant
Putin is busy in war with Ukraine, Imran Khan had to return to Pakistan without meeting
Russian troops have started attacking Ukraine following the orders of Russian President Vladimir Putin. The strange coincidence here is that as soon as Pakistan's Prime Minister Imran Khan reached
Money Laundering Case: Jacqueline Fernandez reaches ED's Delhi office, will be questioned in a case related to extortion of 200 crores
Money Laundering Case: Film actress Jacqueline Fernandez appeared in the Enforcement Directorate (ED)'s Delhi office for questioning in a money laundering case. Sources gave this information. ED will
Anupam Kher, furious at the suggestion to put 'The Kashmir Files' on YouTube, said- 'Those who are making fun of them...'
Vivek Agnihotri's film 'The Kashmir Files' is growing at a great pace at the box office. The film has earned more than 200 crores in 13 days. This film has also broken the record of Akshay Kumar's
Advocates of Nirbhaya's convicts who have screamed as soon as the date of hanging ... have been hanged 3 times.
New Delhi Court
'The central government does not want to save the Waqf but wants to destroy it...', what did Owaisi say on the interim order of the Supreme Court?
During the hearing on the Waqf Amendment Act, the Supreme Court issued an interim order and sought a reply from the Central Government in 7 days. The Supreme Court has ordered that no appointment will
