French Ambassador Francois Richier, on Wednesday, expressed hope that the long on-going negotiations between India and the European Union (EU) for the free trade agreement (FTA) would re-commence after the new government assumes office post the general elections.
“...negotiations have been going on for long time, it includes elements on the automobile sector...negotiations were on hold during the electoral period. So as soon as the new government is formed I assume that the negotiations will start...no idea of a time table,” he said,
speaking to reporters on the sidelines of an event organised to promote the 2014 Paris International Auto Show. The India-EU FTA has missed several deadlines for conclusion due to major differences from both the sides on issues like reduction of duty in sectors such as auto, wines and spirits.
ADVERTISEMENT
Asked about the investment made by the French companies in India, he said till now they have invested around $19 billion.
Stating that he sees this figure going up, the ambassador said, “...the flux of French companies investment in Indian over the last few years in plus one billion a year and I see that to continue. The approach of French companies is long-term... Many French companies have Meanwhile, Paris International Motor Show Executive Director Thierry Hesse invited Indian companies to participate in the show, which is scheduled to be held between October 4-19.
“Paris Motor Show is the oldest automotive show and we invite Indian companies to participate, ” Mr. Hesse said.
ADVERTISEMENT
He added that in the past, various Indian manufacturers had participated in the show.