Significantly ramping up investments in France, 18 Indian firms decided to invest there in 2019, taking the total number of companies from India with a presence in the European country to 120, a French Embassy statement said on Thursday.
The Embassy cited the 'Business France's 2019 Annual Report on Foreign Investment in France' which was discussed on Wednesday in a video conference held by the French Prime Minister Edouard Philippe, along with Minister of Economy and Finance Bruno Le Maire, Minister for Europe and Foreign Affairs Jean-Yves Le Drian and Minister of State attached to the Minister of Economy and Finance Agnès Pannier-Runacher.
"Indian investors, aware of France's new position, have significantly increased their investment in France," the Embassy said in a statement.
"In 2019, 18 Indian companies decided to invest/re-invest in France, creating or maintaining two times more jobs than in 2018, bringing the total number of Indian companies in France to more than 120, with a global employment level of 8,000 jobs," it said.
Ambassador of France to India Emmanuel Lenain said, "I am proud to see increasing Indian investments in France, and impressed by their value addition as they often involve decision-making centres, production/manufacturing operations and logistics."
"The strong presence of Indian businessmen at major events in France shows how attractive France is for India. The participation of a dozen Indian CEOs during the visit of the French President to Reunion Island on October 23, 2019 and the participation of seven eminent Indian CEOs at Choose France, on January 20, 2020 at Versailles bear witness to this," Lenain said.
The French government's decisive reforms over the past three years and growing foreign investor confidence – particularly from India – have enabled France to rank as the top FDI destination in Europe, he said.