A new wave of investments from India to Europe and from Europe to India is likely to follow the India-EU free trade agreement which would take the bilateral trade to euro 160 billion by 2015, says the Indian Ambassador to France Ranjan Mathai.
Two years after negotiations on the FTA began, India and the European Union are continuing the talks with the hope of concluding by the end of 2010.
"We are looking at very major increase in investment in France and India and of course, larger European Union as a whole. And we would like to encourage this by emphasising the opportunities available in India. We will have a new wave of investment," Mathai said at the Euro-India Transportation Systems (EITS) event here.
Some 700 European and Indian companies in the automotive, aerospace, rail, truck/bus, shipbuilding and transport & logistics sectors are participating in the EITS. Mathai said many European and Indian companies have lined up huge investments to be made in both the regions.
He said the India-EU FTA would take forward bilateral trade, which is expected to grow to euro 160 billion by 2015 from around euro 70 billion at present.