France to invest euro 2 billion in India

France on Friday announced an investment of euro 2 billion in India, as Prime Minister Narendra Modi invited French companies to pump in money in technology in the fastest growing economy.

France will invest euro 2 billion in India, President Francois Hollande announced at a chief executive officer forum here.

Inviting French investors, Modi said, “There is no bigger market than India. It is also the fastest-growing economy since the past six months. Various rating agencies such as World Bank and Moody’s have said in one voice that India is the fastest growing nation.

“It is rare to find a country with a market, with the government determined on development and demographic dividend. Investors are usually worried about the security of intellectual property. Only democracies like India can guarantee that," he said. Addressing the forum, Hollande said: “France will partner India in Urban development of infrastructure like railways and defence and nuclear sector."