New Delhi (PTI): After committing to treble bilateral trade to Euro 12 billion by 2012, France on Friday said it needs Indian investment and promised to reciprocate through aggressive engagement by its firms in the India growth story.

"French economy needs capital and entrepreneurship of Indian investors," its President Nicolas Sarkozy said at a meeting with leaders of Indian and French industry here.

He said France is keen to be India's long-term strategic, economic, scientific and academic partner. "We are prepared to multiply our partnership".

Seeking greater involvement for French companies in the world's second fastest growing major economy, he said the Indian industry and the government should "make some room for them," and they would not disappoint their counterparts here.

Referring to the issue of possible job losses in a steel plant run by NRI industrialist L N Mittal's firm in France, Sarkozy said the problems could be resolved as friends. "I meet with you (pointing towards Mittal seated in the meeting) as a friend, not as an opponent," he said.

Asking India to take a leadership role in the issue of climate change, Sarkozy said: "Never France shall ask you to choose between growth and environment." But it was asking India to take up new form of growth model that protects environment and the interest of poor people who depend on less than two dollars a day.

He said if there was any country in the world, which "feels concern for environment, it is you (India)."

Earlier in the day, both the countries committed themselves to achieving an ambitious target of reaching Euro 12 billion in bilateral trade by 2012 and significantly stepping up investments. The trade at present is Euro 4.08 billion.