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Indian investment proposals in France jump 73% in 2017

Indian investment proposals in France jump 73% in 2017

MUMBAI: India recorded the biggest rise of 73 per cent in investment proposals into France among emerging economies in 2017, according to a report. In 2017, there were 19 Indian foreign investment projects in France, up 73 per cent over last year when there were 11 such projects, according to the report — The 2017 Annual Report: Foreign investment in France – The international development of the French economy. “Among emerging economies, India recorded the biggest rise,” the report noted. In total, France recorded as many as 1,298 foreign investment projects in 2017, with the US emerging as the top investor.

The proposals rose by 16 per cent from 2016. European countries remained the leading sources of foreign investment in France. The largest increase in investment decisions was from the US (up 26 per cent), Switzerland (up 40 per cent), Canada (up 37 per cent), the Netherlands (up 47 per cent) and Sweden (up 76 per cent).

Moreover, India was also among the key markets that drive French exports in Asia along with China and South Korea. The report further noted that Indian IT major Infosys has announced plans to move its business forward in France via a strategic partnership with CMA-CGM. Infosys will open a centre for development and innovation in Marseille (Provence-Alpes-Côte d’Azur region), leading to 80 jobs and setting the standard for Marseille as a hub of expertise. There are also plans to open a training centre at some point, it added.

The report further noted that foreign companies invested primarily in production/manufacturing operations, with 343 investment decisions in 2017, creating 16,123 jobs. “The growing numbers of investment decisions in France, and the jobs they generate, highlight the renewed confidence that decision-makers now have in a country on the move,” said Christophe Lecourtier, CEO of Business France.