Puducherry, Sep 9: A 102-member French business delegation, headed by Special Representative of France for Economic Relations with India Paul Hermelin and French Ambassador to India Francois Richier, will participate in the Global Investors Meet (GIM) on September 9 and 10 in Chennai.
A press release from the French Embassy in New Delhi said today that France had been chosen as the partner country for the meet, reflecting its prominent position among leading foreign investors in India, specifically in Tamil Nadu.
It said Hermelin would present a talk at the opening session of the meet, which would be inaugurated by Tamil Nadu Chief Minister Jayalalithaa. (ALSO READ: Jayalalithaa launches Amma baby care Kit scheme)
The visit of the delegation has been organised by the Regional Economic Service of the French Embassy and would comprise French companies from the urban development and renewable energy sectors and French companies already established in Tamil Nadu.
The delegation would also have representatives and companies from the French regions of Centre, Pays de la Loire, Midi-Pyrenees and Reunion Island.
The delegation would also hold meetings with dignitaries and high level officials of Tamil Nadu government, it said. It said French companies have a long and diversified presence in Tamil Nadu with their number standing at 118 in early 2015. It is thus one of the top five states for French investments in India with 29 French companies choosing Tamil Nadu for their corporate headquarters, including Euronext indexed Michelin, Renault, Saint- Gobain, Valeo and Vivendi.
Sixty French industrial houses contribute to boosting the state’s industry with their presence in a vast array of sectors including automobile (Renault) construction (Saint Gobain), food processing (Lactalis) telecommunications (Alcatel) electricity supply and distribution (Alstom Grid).
French companies are not only investing but also bringing expertise, knowhow and technology with them and also develop large research and development facilities in India, the release said, adding this was a direct contribution to skill development in India and to the Make in India programme. (ALSO READ: Jayalalithaa inaugurates new government medical college in Chennai)
It said more than 1,000 French companies have put in total investment stock of 19 billion dollars (2014) with more than one billion Euros worth of new investments each year, placing France among the leading foreign investors in India.
French companies which cover a broad spectrum of sectors also employ more than three lakh skilled Indian workers across the country placing France as one of India’s leading economic partners, the release said. (Image Credits – Pinterest)