French firms looking for ways to invest more in India

Chief executives of top-30 French companies from sectors such as defence and aerospace Monday held discussions with senior officials of the commerce and industry ministry for increasing investments in India, IFCCI said. The Indo-French Chamber of Commerce and Industry (IFCCI) also released a white paper based on a survey of French companies in India on the means of improving ease of doing business.

The paper, it said, has recommended few reforms for French businesses that want to set up business in India. It has suggested for wider adoption of single-window clearance formats, time-bound approval of grants and a timely follow-up of tax and infrastructure incentives provided to the private sector.

The CEOs met secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Ramesh Abhishek and his team. It said France is currently one of the top investors in India with more than 600 established companies here employing more than 3,50,000 persons.