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Eurozone crisis over: Hollande

Bats for India, France to open markets to each other

Sanjay Jog  |  Mumbai 

Fench President Francois Hollande on Friday said the crisis in Eurozone is is over, confidence is back and investments are coming into the zone. In such a situation, France and India should open markets to each other.

He clarified that he did not want to interfere into India’s political decisions but reiterated that opening of the markets by both the countries will help amplify trade, investments and take economic growth to a new scale. Hollande was speaking at the meeting with the industry and business captains here jointly organized by FICCI, CII and Assocham.

“We have introduced mechanism for stability, created banking union of members of the European Union and all necessary steps are initiated to maintain solidarity,” Hollande said. “Both India and France can work together to face various global and local challenges together. Both will have to open their markets. France has not opened just a window but full door for Indian companies who can tap both the European and African markets,” the French President added.

Hollande said India and France can further increase their cultural and scientific relationship apart from the economic one. “France continues to attract biggest foreign direct investment largely due to quality of labour, research and development, innovation and world class infrastructure. I once again invite you to invest . We are capable to allow Indian companies to penetrate in European market. Similarly, French companies are invest in India to tackle challenges of rapid urbanization, habitat, infrastructure, access to potable water, space technology and nuclear sector,” he noted.

Hollande avoided direct mention of proposed development of 9,900 MW Jaitapur nucler project in Maharashtra by supply of two evolutionary pressurized reactors by Areva. However, the French President however, recalled inter government civil nuclear agreement between India and France. “Fance is committed to reduce green house emissions and it is making all efforts for reprocessing of nuclear waste. France will partner India in its nuclear sector,” he added.

Praised Mumbai‘s position across the globe not only as the financial and economic centre but a 'city where Mahatma Gandhi in 1942 launched civil disobedience movement

* Mumbai is a city of great dynamics and of cultural importance

* Mumbai is the city which produces largest cinema. India and France can work together in cinema which will lead to creation of jobs

* Mumbai also created great families like Tatas and Ambanis who are increasing their global presence now. We tribute to them

* Maharashtra is a place of wine and soon there will be a wine festival. We are made for each other

* Challenge is recession. India has growth at the rate of 10%. Both India and France can together tackle global challenges effectively.

* France salutes entrepreneurship in India which is driving the country among the top world economies.

First Published: Fri, February 15 2013. 19:39 IST