-Mr. Udyen Jain, Founder and Managing Partner, UJA GLOBAL ADVISORY PVT. LTD.
What are the business and investment opportunities you see between India and France?
The dynamic partnership between India and France opens up lucrative business prospects. Both nations, with strong economies, exhibit complementary strengths across domains such as politics, strategy, trade, commerce, sustainability, and technology. This alliance transcends mere partnership, becoming a driving force to address global concerns like peace, security, and the environment.
The year 2023 marks a significant milestone, celebrating a quarter-century of strategic partnership between India and France. The Honorable Prime Minister, Narendra Modi, graced France's Bastille Day Parade on July 14, 2023, as the Guest of Honor. During his sojourn, a momentous joint declaration was made by ISRO and CNES, A significant joint declaration between ISRO and CNES promising cooperative endeavors in satellite launch technologies. Another promising MoU between MeitY (Ministry of Electronics and Information Technology) and the French Ministry of Economy, highlights the collaborative intent between the two nations.
On a global stage, India's presidency of G20 assumes eminence, hosting over 200 gatherings across 56 locales. This moment showcases India's growing economy and attracts French companies looking to expand globally. France's tech prowess will enhance the global competitiveness of Indian companies. Promising partnerships can thrive in sectors like renewable energy, IT, healthcare, and aerospace.
In healthcare, India's growing middle class drives higher demand for advanced medical services. French companies in pharmaceuticals, medical devices, and healthcare can explore collaboration and investments. A city like Hyderabad is an expanding biotech and life sciences hub and it could present an excellent platform for French enterprises especially due to the presence of a local IFCCI chapter.
Another horizon of opportunity is evident in France's aspiration to host a large cohort of Indian students by 2025. This creates a promising pathway for students affiliated with French enterprises, both in India and France.
At UJA, we're seeing more French investors exploring India. This shows that partnerships between French and Indian companies are on the rise, along with real growth opportunities. Our team includes both French and Indian members, many of whom studied in French universities and business schools. This mix of cultures helps us provide excellent guidance to French businesses in India.
What are some of the key challenges faced by your industry in the Indian market as well as by your company specifically? Can you describe some of the strategies you’ve implemented to overcome these challenges?
In India, efforts to enhance regulatory predictability and bureaucratic efficiency have led to improved business conditions. Yet, the misconception that India is complex for business remains. Concerns about building strong connections and cultural differences persist. At UJA Global Advisory, we've adopted strategic measures to address these issues:
a. Cultural Insight: At UJA, we acknowledge that cultural finesse is pivotal for ensuring seamless business interactions for foreign enterprises in India. Recognizing the importance of cultural understanding, our diverse team of Indian, French, Japanese, and Italian members helps companies navigate seamlessly in India.
b. Continuous Learning: Our unwavering commitment to staying abreast of industry trends and regulatory changes sets us apart. This reservoir of knowledge equips us to furnish clients with inventive solutions and unwavering guidance, ensuring their progressive trajectory within India's business sphere.
c. Strategic Alliances: UJA has meticulously fostered alliances with reputable entities, including esteemed firms and bilateral institutions across India, Japan, Italy, and France. These alliances operate as crucibles of expertise, fortifying our market credibility and augmenting our capacity to provide clients with invaluable services.
In doing so, we elevate our client experience and help them surmount challenges to achieve sustained growth and prosperity in India.
What have been the biggest accomplishments of your company in the last few years?
Embarking on a trajectory of progress, we have attained a series of commendable milestones in recent years, characteristic of our commitment to excellence:
a. Facilitating seamless cross-border business: Our advisory services enhanced through our nuanced guidance, market insight, and professional network, facilitate seamless cross-border investments between India and France. Our expertise and efforts have borne fruit through numerous successful collaborations between the two countries.
b. Diversifying and enriching our service spectrum: Defining our pursuit of resourcefulness and comprehensive excellence, we have diligently broadened our service repertoire. This strategic expansion transcends industry boundaries and encompasses a holistic range of advisory solutions tailored to the distinct requirements of our esteemed clientele.
c. Cultivating enduring client partnerships: At the cornerstone of our journey, we have meticulously nurtured a culture of delivering unparalleled value. This commitment has culminated in robust and enduring client liaisons, underscored by exceptional satisfaction rates and a commendable recurrence of engagements.
In alignment with our ethos of collaboration and constructive engagement, UJA Global Advisory stands hand in hand with esteemed institutions that serve the Indo-French ecosystem. Our synergistic partnerships with Business France and the Indo-French Chamber of Commerce reflect our unwavering dedication to fostering international alliances. We also work hand-in-glove with the Indian Embassy in France to promote France as a gateway to Europe and Africa for Indian companies.
How has IFCCI added value to your organization in India? Would you recommend other companies to join IFCCI as a member?
The esteemed role of IFCCI within the Team France Export ecosystem remains unparalleled and the recent accolades bestowed upon IFCCI affirms the undeniable value it offers in the Indo-French business ecosystem. The launch of its Corporate Social Responsibility (CSR) Department is another commendable action taken by IFCCI in June 2023. This initiative enables IFCCI member companies to collectively channel their CSR resources towards impactful projects. This yet again underscores IFCCI’s commitment to fostering holistic progress. In addition, the following salient features merit special highlighting:
a. Strategic Networking Arena: IFCCI's meticulously curated events and expansive networking platforms have bestowed us with invaluable prospects to engage with potential clientele, collaborative partners, and industry luminaries.
b. Active Involvement in IFCCI Committees: Our engagement in IFCCI's committees through our French desk has been instrumental. This engagement has endowed us with critical sectoral insights, engendering informed strategic decisions.
c. Advocacy and Strategic Guidance: IFCCI's proactive advocacy initiatives have undoubtedly augmented our operational efficacy, particularly in navigating regulatory landscapes and policy fluctuations germane to our business domain. This support extends robustly to assisting French enterprises in their market entry endeavors within India.
It is with genuine enthusiasm that I recommend every enterprise aspiring to establish connections within a like-minded professional cohort to earnestly consider becoming a member of IFCCI.