India seeks more FDI from France

New Delhi, Jun 2 (UNI) Foreign Direct Investment from France into India will be accelerated and three billion dollar two-way trade will be stepped up to five billion soon.

This was indicated during discussions between Commerce and Industry Minister Kamal Nath and Minister of External Trade of France in Paris Christine Lagarde,last evening.

Ms Lagarde indicated that the focus of French investment would be in high-tech industries and IT. She also conveyed the keenness of France to promote collaboration between small and medium enterprises (SMEs) of the two countries.

Earlier, the two Ministers issued a joint statement at the conclusion of the 14th Session of Indo-French Joint Committee held in Paris on May 31, 2006 welcoming the recent positive trends in trade and investment and agreed to take concerted steps to expand bilateral trade and economic cooperation, including finding ways to facilitate movement of business persons, professionals, students, interns and tourists which would help in the expansion of business linkages between the two countries.

France also indicated that its proposed legislation on immigration currently under examination by French Parliament would open new avenues for foreign qualified professional and students to access the French market.

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