Bilateral trade with India short of potential: French Minister

French Minister of State for Industry Christophe Sirugue on Tuesday exhorted Indian businesses to invest in the European nation, saying it offers vast opportunities with single window clearance, reformed labour laws, reduced taxation and ready infrastructure.

Sirugue said bilateral trade between India and France is not commensurate with the potential of the two nations. "France is an economic powerhouse and Indian investors are welcome to set up their businesses in the country to step up the economic growth trajectory in the two countries," he said. The two-way commerce in goods between India and the EU was $98.5 billion in 2014-15. However, bilateral trade between India and France stood at $9.37 billion in 2014-15.

India has received $4.76 billion FDI between April 2000 and September 2015. Terming France the 'financial hub of the future', Sirugue said it has qualified, hardworking, sincere, well-motivated manpower which is reasonably priced for the foreign investors.