France woos pharma, IT sectors

As a testimony to the sustained recovery in the global economic situation, France has opened its arm for the India Inc to expand their presence by setting up units on the European soil.

Speaking at an industry seminar organised by Confederation of Indian Industries, Guillaume Page, inward investment officer from Invest in France Agency, informed that France has emerged as one of the strongest economies in the entire European Union region, having achieved a GDP growth of 1.5 per cent.

"France investment potential in the field of information technology, pharmaceuticals and renewable energy sectors is huge. Companies wanting to invest in France will get all necessary support from the government," he said.

According to him, France has eased the norms for the mobility of employees to the country, and also highlighted the latest reforms implemented by the French Government to reinforce the attractiveness of France as an Investment destination.

He informed that Indian pharma giants including Dr Reddy's, Wokhardt, Zydus Cadila have their operations in France, while a subsidiary of Ahmedabad-based Intas group has a distribution network.

The sectors where Indian companies would seek collaboration with the French companies include refined petroleum products, garments, textiles, apparel accessories, leather clothes, footwear etc.