France woos India Inc, promises tax sops

France woos India Inc, promises tax sops

By SiliconIndia   |   Thursday, 23 September 2004, 07:00 Hrs
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NEW DELHI: After dishing out a slew of incentives for foreign investors, France is now aggressively trying to woo the Indian corporate and holding talks with bigwigs like Tatas, Reliance, Godrej and Mahindra & Mahindra.
"I am here to enhance the international visibility of France and will hold talks with these companies on a one-to-one basis," Special Representative of France for International Investment and President of Invest in France Agency (IFA) Clara Gaymard said on the sidelines of a debate at the French Embassy on Wednesday.

"India is emerging fast and it needs three feet -- one in India, one in the US and the third in Europe. We are here to offer France for its Europe base," she said during her meeting with industry representatives.

France has exempted tax on personal income and is considering reforms in business tax system and R&D funding.

"Since the reforms are being considered, the government has decided to exempt the business tax till 2006," she said, adding the country has also made reduction in tax and social securities levies for young innovative companies.

On the potential investors in India, she said since both India and China are witnessing a large number of foreign investors in their countries, they are seriously working on the global presence of their firms too.

"There are only 25 Indian companies in France right now but we are sure more companies would soon join us," she said.

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