New Delhi, March 17 (FN Agency) France is proving an attractive destination for Indian investors, with more Indian firms keen to move their European headquarters to Paris instead of London due to Brexit, says a new report. According to the ‘2021 Annual Report: Foreign investment in France’, last year saw 10 investment projects from India came to fruition in France, helping create more than 212 jobs, with two-thirds of them in the IT sector. Meanwhile, Indian investors already active in France were assisted by the Government of France to maintain staff, business, and production in their manufacturing plants in France during the COVID-19 period, just like French companies.
France is the third host country for Indian investment projects in Europe with 9% of total Indians going to France. France has attracted more and more Indian companies to move their European headquarters to Paris instead of London due to Brexit. Indian investors choose France as the best entry door to the European market but also to the African market as it offers lucrative incentives with its strategic location in Europe, it said. “FDI towards France is gaining momentum in light of the post-pandemic global reshaping of supply chains as well as Brexit. Indian investors are choosing France as their HQ in Europe to benefit from the various incentives offered by the French government’s recovery plan. Business France India is happy to assist Indian companies willing to set up or expand in France,” said Eric Fajole, Director, Business France India.
An example of a successful Indian company in France is Tata Consultancy Services. TCS, the Indian IT giant and digital transformation leader, announced the development of a new service centre in Poitiers in November 2021. TCS has an excellent job creation plan with 50 new jobs to be created before 2022, crossing the bar of 100 on-site employees. Business France is the national agency supporting the international development of the French economy, responsible for fostering export growth by French businesses, as well as promoting and facilitating international investment in France.