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French senators begin study tour for investments in India

New Delhi, Sep 8 (IANS) Some 300 French companies are interested in investing in India and an 11-member team from the country's senate is on a week-long visit to India to identify the areas with good potential, officials said.

"Our focus will be on all the sectors such as service, manufacturing, banking, energy and infrastructure," said Jean-Paul Emorine, president of the Economic Affairs Committee of the Senate, who is leading the French delegation.

"The companies that we will mainly be focussing on are EADS, Eurocopter, Alstom, Areva, BNP Paribas, and Dassault Aviation," Emorine told a reception hosted for the delegation at the French embassy here Thursday evening.

"We are also strongly looking at India's food processing business and the information technology sector. I believe both the countries' strong diplomatic relations have facilitated this visit," Emorine stressed.

The French team arrived Thursday and will also visit Bangalore and Mumbai during their stay in India, said Marc Fonbaustier, minister counsellor at the embassy here.

The itinerary of the team in the capital includes visits to the Delhi Metro, the Noida Mall and a garments factory, as also interactions with some Indian members of parliament and the National Association of Software and Service Companies (NASSCOM).

The delegation met the Deputy Chairman of the Planning Commission Montek Singh Ahluwalia Thursday to discuss foreign investment requirements in the country's infrastructure.

"India's growth has not been homogenous. On the one hand the country's services sector and information technology is booming, while on the other, the growth in agriculture and industry has been very poor," Fonbaustier said.

"After this study tour, the senators will present a report to the French senate and talk to the French companies there who are planning some major investments in the country," he added.

In Bangalore, the delegation plans to visit the Grover vineyards and Infosys, and interact with officials of French companies based in the city like Valtech, AXA and Societe Generale.

The engagements in Mumbai include meetings with chief executives of companies in pharmaceuticals, biotechnology, software and information technology.