France to invest $10bn in India to support Make in India drive

Hollande and ModiMake in India: French companies will invest $10bn India over the next five years, chiefly in the industrial sector, the EU country’s Finance Minister Michel Sapin predicted today as he and President Francois Hollande visited New Delhi as guests of honour at India’s Republic Day celebrations.
“Over the past five years, French companies have invested more than $1bn annually in India,” Sapin told the Federation of Indian Chambers of Commerce and Industry in New Delhi. “We estimate that they will continue to invest at least $10bn over the next five.”
Make in IndiaThe French President hopes to seal an intergovernmental deal that would pave the way for the sale of 36 Rafale combat jets made by Dassault Aviation. The deal is expected to provide for several French investments aimed at supporting Prime Minister Modi’s ‘Make in India’ drive to develop the country’s manufacturing sector