Don’t underestimate French cos’ problems in India: Sarkozy

Don’t underestimate French cos’ problems in India: Sarkozy

Difficulties faced by French firms wanting to invest in India must not be underestimated and its rules must be “fair and visible”, Nicolas Sarkozy, former French President and now Leader of Opposition, said today.

Sarkozy, who is currently on a visit to India, is slated to meet Prime Minister Narendra Modi here later in the day.

Pointing out that bilateral trade between India and France in the last 10 years has gone up three times, he said French investments in India are worth USD 20 billion and French companies employ 3 lakh people here.

“I would not say ‘Make in India’ but ‘Make with India’ because it seems like a better concept with a partnership on equal footing,” he said at an industry conference here.

“Many French business leaders want to come (to India). They want rules to be fair and visible,” he added.

Emphasising that choosing India is an “important commitment” to make for French companies, he said: “Don’t underestimate difficulties for French companies to come to India. I would also like to see more Indian companies in France”.

Stating that India is a young country which has “very deep roots”, Sarkozy said France and India must work together on all subjects and although things are going well “they could be better”.

He said the strategic partnership between India and France is real because of the collaboration in space, nuclear cooperation, energy and national defence which is very important for India.