New Delhi, Feb. 16 (Reuters): India Inc is appalled by the resistance put up by France and other European nations to a bid by Mittal Steel for Luxembourg-based Arcelor, branding it xenophobic, a leading business body said.

The Associated Chambers of Commerce and Industry surveyed 200 corporate heads and found the majority felt European efforts to block the multi-billion-dollar bid by Indian-born steel magnate Lakshmi Mittal was hypocritical. It was also against the spirit of the WTO.