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French firms sign 4 LoIs with TN Govt committing Rs 200 cr investments

Chennai, Feb 11 (UNI) Four French firms today signed Letter of Intents (LoIs) with the Tamil Nadu government committing an investment of Rs 200 crore in the State.

The four French companies A.Raymond Fasterners, Cryolor, Precia Molen and Timac Agro signed LoIs with the Tamil Nadu government, with intent to invest Rs 200 crores in the State during the IFCCI Indo-French Investment Conclave 2021.

The special focus sectors for which LoIs were given were Aerospace & Defence, Mobility, Electronics & Hardware and Ease of Doing Business.

Dr. Neeraj Mittal, MD and CEO, Guidance said,

"French companies form an integral part of the industrial landscape of Tamil Nadu. Major French players like Michelin, Renault, Engie, Lactalisetc call Tamil Nadu home, representing a diverse array of sectors such as renewable energy, auto manufacturing, food processing and more. We look forward to welcoming more French companies to Tamil Nadu and we are sure that they will thrive here, he said."

"Tamil Nadu is an important state for existing French companies in India, both as a manufacturing base and an export hub. Through this conclave, we hope to encourage more companies to understand the potential that this state has to offer and today four French companies have signed LoIs worth Rs 200 crore of investment which is a testament of their commitment to investing in the state"

said Ms.Payal S.Kanwar, Director General of IFCCI.

Ms.Lise Talbot-Barre, Consul General of France in Puducherry and Chennai said

"The common will of the Indian and French governments has led to the development of Indo-French cooperation in recent years. The recent visit to Chennai by Ambassador of France to India, Mr. Emmanuel Lenain is significant of the French will to take steps to make a major partner out of the Tamil Nadu State."

Motivating this diplomatic attitude are the perception of converging interests, a shared vision of the World, and the need for France to shape a strong partnership. "Team France”, the Consulate together with Business France and the Indo-French Chamber of Commerce, are accompanying French companies doing business in Tamil Nadu, said Lise Talbot-Barre.

Source : United News of India

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