India, France have huge untapped potential in developing business ties: French envoy

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India and France have huge untapped potential for developing business relations and there are many opportunities for French businesses to invest and create jobs in India, the European nation's envoy Emmanuel Lenain said on Monday.

Calling relations between India and France "fabulous", Lenain said the two countries share a great level of confidence and partnership in sectors including military, defence and culture.

"We have a solid relationship in terms of political ties between the two countries. But as compared to political ties, the two countries still have a huge potential for developing business relations," he said at the launch of the second edition of the annual Indo-French business forum 'Ambition India 2020'.

Lenain noted that India has many fast growing sectors such as IT that can be tapped.

"We would also like to welcome Indian investment to my country. In context of Brexit and huge reforms there is a huge potential of business between India and France. We are a pro-business country and we see India as one of the major players," he said.

"They (French businesses) come forward as partners and engage in a lasting relationship with this country (India). They can invest in India, create jobs in India, 'make in India', and also innovate in India, as India is offering huge opportunities," the French envoy to India said.

Christophe Lecourtier, CEO of Business France, said there has never been a better time to choose France.

"In France, major structural reforms have been implemented like the reformation of the labour law and the decrease in corporate tax rate making the financial sector more competitive. But there is a gap in France's this reality and perception of many countries, including India, about it," he said.

The Ambition India 2020, scheduled to be held by April-end next year in Paris, will focus on innovation, indian consumer and Make in India, he said.