Communication - Press

Indian Firms Take Part In French Investment Summit

21 January 2020 • by The Economic Times

An international business summit to promote France as an economic hub among foreign investors, including India, was held in French city of Versailles

An international business summit to promote France as an economic hub among foreign investors, including India, was held in French city of Versailles.

More than 180 company heads from various countries, institutional participants, and 20 ministers participated in the 'Choose France Summit' held in Versailles, France, on January 20.

"The annual international business summit aims to promote France's economic appeal among its foreign investors by its know-how and innovative capacity as well as the economic reforms undertaken by the French government," according to a statement issued by the Embassy of France in India.

Welcoming the Indian participation at the Summit, the Ambassador of France to India, Emmanuel Lenain said, "I am delighted with the strong participation of Indian majors in Choose France 2020."

"More than 150 Indian companies are already present in France, a dynamic and innovative economic hub providing access to Europe's 500 million consumers. The French government has greatly improved the ease of doing business through measures such as labour law reforms and corporate tax rate cuts," Lenain said.

Company heads from India with footprints in France included Anand Mahindra, Group Chairman - Mahindra & Mahindra; C Vijayakumar, CEO - HCL; Vivek Chaand Sehgal, Group Chairman - Motherson; Jaidev Shroff, CEO - UPL; Rajesh Kumar, Co-President, and Rajiv Kumar, President - S Group; Nitin Rakesh, CEO - Mphasis; and Mr Madhav Kejriwal, CEO - Electrosteel, the statement said.

French President Emmanuel Macron delivered the closing address at the event.

Ranked among the top 20 countries in the Global Competitiveness Index compiled by the World Economic Forum, France is not only the most attractive European destination for industrial investors, but has now emerged as a popular investment hub for research and development, it said.