Francois Hollande: Remove investment hurdles, willing to pump in $1 bn

"There are always obstacles to opening markets," Hollande said addressing industry leaders in the financial capital this evening but clarified he is not meddling in the political affairs of this country.

Admitting that obstacles (to market reform) exist in both the countries, Hollande, winding up his two-day state visit said, "I am not here to interfere in the political decisions but these decisions (to open up markets) are nonetheless necessary."

"We are all convinced that India has a great future and we want to partake in that," he said, adding the country has the potential to grow at 10 per cent and faces "immense challenges commensurate with its size".

French companies led by the retailer Carrefour and nuclear major Areva, among others, have been waiting to invest in the country but like others in the developed world have blamed the policy environment as being the impeding factor.

Underscoring the deep economic ties between the two nations, Hollande said the relations go back to over 150 years with the pioneer being the bank, BNP, and said assets created by 750 French companies here stand at USD 17 billion at present. He added that French businesses would like to invest more in an emerging economy like India.

"We pride ourselves on being one of the biggest investors here. The stock of our

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