FM seeks closer engagement with France

New Delhi, June 15 (UNI) It is re-establishing the French connection with India which Finance Minister P Chidambaram is engaged in Paris, wooing industry to put their money in the country, given the manifold advantages of doing so.

Mr Chidambaram in a meeting with French CEOs asked entrepreneurs to set up ventures and those who are already having business in the country to expand their operations.

The Finance Minister is in the European country at the invitation of French Finance Minister Thierry Breton. His visit, which commenced on June 13, will conclude today.

The call for investing in India was made at a dinner meeting of the CEOs, where the Indian Finance Minister was the Chief Guest.

Mr Chidambaram highlghted the fact that high growth rates in India were indicative of the healthy fundamentals of the economy and French investments in the country would be a mutually beneficial affair.

The Finance Minister also attended a breakfast meeting organised by the Hong Kong and Shanghai Bank which was attended by heads of French Multinationals.

At another event on June 14, the French Chamber of Commerce and Industry--MEDEF International-- hosted a luncheon meeting in honour of Mr Chidambnaram on June 14.

The Finance Minister spoke off the crying need of investments in the infrastructure sector and highlighted the grandiose plans of the country in this regard.

Mr Chidambaram also took questions from the audience.

During his meeting with Mr Breton, Mr Chidambaram took up issues of mutual interest, including global interest rates, international imbalances, crude prices and the happenings at the WTO.

Some of the key French companies which participated in the different functions included Aeroports de Paris, Alstom and Veoltia&Suez (Infrastructure); BNP Paribas, Societe Generale, ING Group, Rothschild and Dexas&Calyton (Banking and Finance); EADS&SAFRAN (Aero industry); Renault, PSA Peugeot&Citroen, and Michelin (auto sector); LVMB, Hermes, L'Oreal, Accor Hotels, Saint Gobain, French Telecom and Thales (luxury goods).

UNI GS CS PC1527