According to a recent report released by Business France, a national agency in France, India made 12 new investments in the European country, creating or maintaining 290 jobs.
As per the 2015 annual report released by Business France, India made 12 new investments in France and created or maintained 290 jobs in the country. Business France, founded on January 1, 2015, is the national agency supporting the international development of the French economy as well as promoting and facilitating international investments in the country.
The report revealed that there are more than 120 Indian companies operating in France, where more than 7,000 people are employed.
The total Indian investments in France in 2015 are reported to be at 42 pc in production and manufacturing operations, 33 pc in business services, 17 pc in decision-making centers, 17 pc in energy and recycling and over 17 pc in energy and aerospace and naval and railway equipment.
Some of the main Indian companies that made project investments in France in 2015 include AEQUS, a company specialising in developing and producing engineering solutions that acquired the Besançon site of the French company Sira and employed 320 people;, Wpil, a Kolkata-based company that manufactures pumps used in water distribution systems and nuclear infrastructure, acquired the French company Pompes Rutshi, based in Mulhouse; and DNP International, a Surat-based company, which designs and produces analysis instruments, acquired the Grenoble-based firm Tethys.
“2015 witnessed a renewed emphasis on Indo-French investment as both countries shared a common vision of manufacturing excellence and energy efficiency. With the help of the Creative France campaign, Business France was able to enhance its outreach to India and foster long-lasting ties with some of the most renowned names in innovation and sustainable development,” said Muriel Pénicaud, aAmbassador for International investment and CEO of Business France.
Apart from these companies, Infosys, Wipro, Bharat Forge, Muragappa, United Phosphorus, Crompton Greaves (Avantha Group), Titagarh, Air Works, Biological E, Transasia, Axis Aerospace, along with others, also invested in France.
“These investments highlight the attractiveness of France for Indian investors who leverage the expertise, competencies and creativity they acquire in France, in order to increase significantly their contribution to the ‘Make in India’ initiative. One of the main assets of France for Indian investors is its state-of-the-art facilities in innovation and R&D,” said François Richier, Ambassador of France to India.