India Can Look To $5 Bn French Investment In Insurance


NEW DELHI: India can look forward to $5 billion in investment from France in insurance in light of the hike in the ceiling of foreign equity in the sector to 49 percent, French Ambassador Francois Richier said.

French investment flows into India in 2014 were comparable with those into China, Richier said at an interactive session here between chief executives of French companies in India and government officials organised by the French embassy and the Federation of Indian Chambers of Commerce and Industry ahead of Prime Minister Narendra Modi's visit to France next month.

"When you compare the share of French FDI, India receives 6 percent whereas China receives 7 percent as of 2014. This shows that while China has GDP four times greater than India, the French investment is roughly the same. There is far more attraction to India than China due to the large market, wonderful workforce and cultural connection," Richier said.
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Source: IANS