EU asks India to further open economy to FDI

Jul 23, 2010 |

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New Delhi, July 23: The European Union today asked India to further open its economy for foreign investments even as the country has taken tentative steps towards liberalising FDI in sensitive defence and multi-brand retail sectors.

"We would like India to further open its economy to EU investments," the Head of the Delegation of the EU to India, Daniele Smadja, said at a Ficci function here.

She said that the 27-member economic bloc has an open regime for FDI and the EU want to take it forward with India.

"We are ready to commit to full openness towards Indian investment...," Smadja said.

The EU accounted for 27 per cent of FDI India received in 2009. The Netherlands, Germany and the UK are the main investors.

The Ambassador said the proposed comprehensive free trade agreement between India and EU would bring more predictability in the bilateral investment relations.

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