Indo-French Chamber of Commerce & Industry (IFCCI) and MIDC sign an MOU to encourage French Investments in the state of Maharashtra
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Mumbai (Maharashtra) [India], June 16: The Indo-French Chamber of Commerce and Industry (IFCCI) signed an MOU with the Maharashtra Industrial Development Corporation (MIDC) to facilitate investments from France into Maharashtra. An initial MoU was signed in September 2021 and this renewal was signed during a high-level roundtable discussion organized on, 'The Ease of Doing Business in Maharashtra' held in the presence of over 25 CEOs from top French companies operating in sectors such as automotive, renewable energy, chemicals, IT, transport, consumer goods, construction etc. The MoU was signed by P. Velrasu, CEO, MIDC and Benoit Renard, Vice President, IFCCI and Managing Director, Air Liquide India.
The MoU aims to:
* Enhance bilateral trade and investment flows between France and Maharashtra
* Facilitate the entry of new French companies into the State
* Support the expansion of existing French businesses in Maharashtra
* Foster a conducive industrial environment aligned with Maharashtra's Ease of Doing Business initiatives
On this occasion, Payal S. Kanwar, Director General, IFCCI stated that, "France has deep economic interests in the State of Maharashtra and is committed to enhance its positioning towards investments and job creation into the state; the renewal of the MOU with MIDC is a testimony of the growing interest and expansion of French companies in the state of Maharashtra and we look forward to building a strong partnership."
Shri P. Velrasu, CEO, MIDC welcomed the initiative and noted that such forums are very important for MIDC to help industries and ensure an inclusive environment. Shri P Velrasu welcomed the MoU between the two organizations and also noted that the forums should regularly convene to bring more momentum and allow MIDC to help solve industry issues. He also assured the industries representatives that MIDC is dedicated to addressing the issues of industries and is actively taking steps to bring ease of doing business in the state.
The roundtable discussion served as a platform for French industry leaders to engage in a constructive deliberation and dialogue with MIDC, sharing on-ground experiences and recommendations to further streamline business operations and investment processes in the State.
The renewal of the IFCCI-MIDC partnership is a pivotal step in strengthening the Indo-French industrial corridor, fostering innovation, sustainable growth, and mutual prosperity.
The MoU was signed in the presence of Hon'ble Deputy Consul, Sami Bouakaze, Consulate General of France in India and Benoit Gauthier, Minister Counsellor for Economic and Financial Affairs & Head, Regional Economic Department, Embassy of France in India along with top key French investors and business leaders who were present for the event.
About IFCCI
Established in 1977, the Indo-French Chamber of Commerce and Industry belongs to a worldwide network of 124 French Chambers (CCIFI) in 95 countries with over 37,000 companies. One of the most active bilateral chambers in India, the Indo-French Chamber is a not-for-profit association that promotes mutually beneficial trade relations between India & France. IFCCI represents a dynamic business platform of close to 800 company members with 17 sector & function led committees with a total network of more than 8000 individual members. Headquartered in Mumbai, IFCCI has five other offices in New Delhi, Bengaluru, Chennai, Hyderabad and Pune.
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