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Clicking the investment link, Rajasthan meets France

An online interaction between senior bureaucrats from Rajasthan with representatives of the French embassy in India and industries explored upon extending economic ties between the European country and the state of Rajasthan. The webinar held on Friday morning was promoted by Rajasthan Industrial Development and Investment Corporation (RIICO) in the sequence of state government's effort to attract investment, especially in a post-COVID scenario in which many companies are considering diversifying their manufacturing bases. 

During the interaction officials of Rajasthan led by the Additional Chief Secretary of Industries, Dr Subodh Agarwal presented the investment opportunities in the state in wide range of areas from agriculture to Defence sector. Rajasthan government has been actively pursuing investors to the state and their recent effort gained support from the Indo French Chamber of Commerce & Industry (IFCCI) that assisted in bringing the major French companies on board along with the Embassy of Republic of France in India. 

Regional Financial Counsellor, Economic and Financial Division, French Embassy, Mr. Patrick Pillon, expressed their Embassy’s support towards promoting investment by French companies in India and upheld the investment possibilities in Rajasthan. During the session IFCCI expressed willingness for a long term engagement with RIICO and the Government of Rajasthan. Representatives of major French Multinationals like Alstom, Thales, Saint Gobain, Credic Agricole and Technique Solaire actively discussed their current profile, future plans and possibilities of expansion and investments in Rajasthan in sectors like defence manufacturing, electronic systems, solar power, agro products, ceramics, cement amongst others. Representative of Saint Gobain, which already has a investment of over Rs.1000 crore in Rajasthan, was highly appreciative of the business environment in Rajasthan and the support provided by the Government of Rajasthan to its plant in Bhiwadi. 

The infrastructure and resource advantages of Rajasthan were highlighted upon at the meeting by RIICO MD, Shri Ashutosh AT Pednekar, as he presented upon the opportunities of investment in defence and petroleum sector. Addressing the delegation, Industries Commissioner of Rajasthan, Mr. Muktanand Agarwal briefed upon the ‘one stop shop’ approach of the government to facilitate the investments, he also informed that Rajasthan is the first state to allow MSMEs to start ventures without obtaining approval or clearances by enacting the Rajasthan Micro, Small and Medium Enterprises (Facilitation of Establishment and Operation)  Act, 2019. 

The French delegation, impressed with the opportunities in state expressed desire for a sustained dialogue with Rajasthan Government, RIICO and BIP in the future, and also proposed an Online Conclave of Govt. of Rajasthan with French companies.

Source : News Track

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