French firms to invest $10b in India in next 5 years

New Delhi: France’s Minister for Finance and Public Accounts Michel Sapin on Monday said French companies have been investing billions in India and he expects that they will invest over USD 10 billion in the next five years.

“Over the last five years, French companies invested more than USD 1 billion per year and we estimate that they will continue to invest at least USD 10 billion in next five years,” Sapin said at the India-France business session organised by industry body Ficci.

French companies represent 10 per cent of solar capacity installed in India and by 2020-22, they could add additional capacities, he said. Sapin said France is the third-biggest foreign investor in India with an investment stock of USD 20 billion and there are more than 400 French companies present in India with a consolidated turnover of over USD 20 billion.



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