Indian and French firms sign agreements worth Rs 1600 crore in Nagpur

Report by: Nation Next Newsroom

Photojournalist: Abhishek Thakare

Nov 18, 2018 18:31

The Indo-French Chamber of Commerce and Industry (IFCCI), in association with the Embassy of France, organized the first edition of Indo-French Investment Conclave in Nagpur on 2nd November 2018. Alexandre Ziegler, Ambassador of France to India, led a delegation of more than hundred leaders of Indo-French companies to the conclave. At the conclave Eleven formal exchanges of collaboration agreements worth Rs 1600 crore were signed between Indian and French firms leading to creation of 3000 jobs.

Technique Solaire, a dynamic French energy SME had an exchange with MEDA, the Maharashtra Energy Development Agency. The French giant, Thales Group set the stage for long-standing partnerships with seven Indian companies, namely Godrej Precision Engineering, Bharat Forge, Amphenol Interconnect India P Ltd, Larsen & Toubro, Solar Explosives, Mahindra Defence Systems and Coriollis. There was an exchange between Turgis & Gaillard, a French aeronautical company and Maharashtra Airport Development Company (MADC). POMA presented a Letter of Intent for two projects in Nagpur and Tadoba. Accor Hotels and Interglobe Hotels Limited also exchanged a Letter of Intent.

This event comes at a time when India reached the rank of 77 in the World Bank’s latest Ease of Doing Business list. Nitin Gadkari, Minister of Road Transport and Highways of India, Devendra Fadnavis, Chief Minister of Maharashtra, and Chandrashekhar Bawankule, Minister of Energy, New and Renewable Energy, and State Excise, also supported the event with their presence.

Expressing his delight with the event, Payal S Kanwar, Secretary General, IFCCI said, “We are delighted to organise this strong Indo-French delegation of this size to Nagpur. The arrival of the French delegation to Nagpur and the signing of the twelve agreements today marks France’s strong commitment to doing business in India.”