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.
PM calls for top-notch Maritime Museum
New Delhi, March 30 (IANS) On the occasion of National Maritime Day on Monday, Prime Minister Narendra Modi has called for a top-notch maritime museum to showcase India's age-old maritime
Delhi Police issued a traffic advisory for the full dress rehearsal of Republic Day, avoid knowing on these routes
The Delhi Traffic Police on Friday issued a traffic advisory regarding arrangements and restrictions for the smooth conduct of full dress rehearsals to be held on January 23 ahead of the Republic Day
COP 27: Humanity groaning from the climate crisis, floods in Pakistan, and severe heat in Europe
The 27th United Nations Climate Change Conference (COP-27) is to be held in Sharm el-Sheikh, Egypt from November 6 to 18. Its purpose is to draw attention to climate disasters and to promote efforts
The government said- stop Rahul Yatra: the country has to be saved from Corona, Congress said- did Modi go to Gujarat wearing a mask
The central government has appealed to Rahul Gandhi to stop the yatra. For this, the increase of corona epidemic has been cited. Union Health Minister Mansukh Mandaviya has written a letter to Rahul.
PM Modi said at ASEAN Summit 2021, India-ASEAN remained the test of friendship even in difficult times of Corona epidemic
Addressing the ASEAN Summit on Thursday, Prime Minister Narendra Modi said that we all have to face many challenges due to the Corona epidemic. This challenging time was also a test of India-ASEAN
Subsidised foodgrain beneficiaries to be doubled in Bengal
Kolkata, March 27 (IANS) West Bengal is in the process of increasing its count of people availing subsidised foodgrain from the present figure of three crore to six crore, Chief Minister Mamata
Covid-19 In China: China issues new Covid control protocol, emphasis on monitoring mutated variants
Because of the increasing cases of coronavirus in China, the Joint Prevention and Control Mechanism of the State Council of the country released the 10th edition of the Virus Control Protocol on
IND vs PAK Report: India-Pakistan T20 World Cup ticket prices sky high, Rs 1.86 crore. The price reached!
Fans wait eagerly for the match between India and Pakistan. Considering that there is no bilateral series between the two teams and the two teams come face to face only in ICC and Asian Cricket
Shouted in the Mahakal temple - I am Vikas Dubey, the Kanpur one; The killer of 8 policemen was absconding for 6 days, the reward of 5 lakhs
Ujjain Vikas Dubey, the main accused in the shootout at Bikaru in Kanpur, was dramatically arrested from Ujjain on Thursday morning, seven days after the incident. He had reached the Mahakal temple
Bateshwar jubilant on Vajpayee getting Bharat Ratna
Bateshwar (Uttar Pradesh) March 28 (IANS) Residents of Bateshwar, 70 km from Agra, where former prime minister Atal Bihari Vajpayee spent his early childood, were jubilant on his getting the