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Business Standard
13 hours ago
- Business
- Business Standard
Indo-French Chamber of Commerce & Industry (IFCCI) and MIDC sign an MOU to encourage French Investments in the state of Maharashtra
VMPL 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.
Zawya
30-01-2025
- Business
- Zawya
UAE-India Business Council UAE Chapter and Maharashtra forge strategic partnership to drive trade growth
Aims to Enhance Investment, Facilitate Business and Strengthen Economic Ties Between the UAE and the Indian State Dubai, United Arab Emirates: In a significant step towards enhancing bilateral trade and investment, the UAE-India Business Council - UAE Chapter (UIBC-UC) and the Maharashtra Industrial Development Corporation (MIDC), Government of Maharashtra, have entered a strategic partnership, formalized through the signing of a MoU. The MoU was signed during the "UAE – India: Partnership for Enduring Prosperity" event, held at the Waldorf Astoria in Ras Al Khaimah yesterday, aimed at highlighting growing ties between India and the UAE across sectors like manufacturing, tourism, and hospitality. This event was part of a wider celebration of India's 76th Republic Day organized by the Consulate General of India. Aimed at opening new doors for investment and trade between the UAE and Maharashtra and fostering deeper collaboration between UIBC-UC members and the state, this powerful partnership is supported by the UIBC-UC's network of 18 founding members, representing a collective force of leading Indian and Emirati businesses. With over USD 1 trillion in assets under management, these organizations are poised to significantly influence the economic growth and prosperity of both regions. The agreement establishes a comprehensive framework for cooperation, encouraging regular interactions between UIBC-UC members and Maharashtra government officials, including the Hon. Chief Minister of the state. The collaboration will focus on improving the ease of doing business for UAE companies in Maharashtra. Both parties will also work to actively promote investment opportunities in the state to UAE businesses. Moreover, the MoU will facilitate the annual exchange of business delegations between the UAE and Maharashtra, fostering stronger ties and business relationships. The agreement signed by Mr. Kshitij Korde, Head of Corporate Affairs at UIBC-UC and Mr. P. Velrasu, CEO of MIDC, was later exchanged between H.E. Major General (Retd.) Sharafuddin Sharaf, Vice Chairman of Sharaf Group & Vice Chairman of UIBC-UC & Mr. Velrasu, in the presence of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, Shri Uday Samant, Hon. Minister of Industries and Marathi Language, Govt of Maharashtra, and H.E. Satish Kumar Sivan, Consul General of India to Dubai and Northern Emirates. This MoU signing was preceded by a closed-door meeting held between Shri Uday Samant, Hon. Minister of Industries and Marathi Language, Govt of Maharashtra; Mr. Deependra Singh Kushwah (I.A.S.) Development Commissioner (Industries); Mr. P. Velrasu, CEO of MIDC; Dr. Vijay Rathod, Joint Chief Executive Officer of MIDC; and UIBC-UC members including H.E. Maj Gen (Retd) Sharafuddin Sharaf, Vice Chairman of UIBC-UC and Vice Chairman of Sharaf Group; Mr. Ankur Gupta, Board Member of UIBC-UC and Head of Corporate Affairs & Growth MENA at Tata Sons; Mr. Neeraj Tekchandani, CEO of Apparel Group, representing UIBC-UC Board Member Mr. Nilesh Ved; and Mr. Pankaj Khandelwal, CFO UAE & India of EFS Facilities Group, representing UIBC-UC Board Member Mr. Tariq Chauhan. Mr. Kshitij Korde – Head of Corporate Affairs at UIBC-UC, and Ms. Neha Sahni – Research Specialist at UIBC-UC, were also present at the meeting. Mr. Faizal Kottikollon, Chairman of UIBC-UC and KEF Holdings remarked, 'This MoU marks a major milestone in strengthening the economic relationship between the UAE and India. By working closely with the State of Maharashtra, we aim to unlock new opportunities for trade and investment that will benefit businesses on both sides.' 'The state visits between the leaders of both countries in the last 4-5 years have been remarkable, with each side visiting more than four to five times, showing the strength of this relationship. Investments have jumped from $40 billion to $60 billion, then to $80 billion, with a target of $100 billion. This reflects the geopolitical shifts and growing economic ties between India and the UAE,' added Major General (Retd.) Sharafuddin Sharaf. About UIBC-UC The UAE India Business Council UAE Chapter (UIBC-UC) is the Official Joint Chamber, established under the patronage of India's Ministry of External Affairs and the UAE's Ministry of Foreign Affairs and International Cooperation. UIBC-UC aims to foster innovative economic collaboration between the two nations. UIBC-UC was inaugurated on February 18, 2023, aligning with the first anniversary of the historic Comprehensive Economic Partnership Agreement (CEPA). The Council, launched by UAE's Hon. Minister of State for Foreign Trade, H.E. Dr. Thani bin Ahmed Al Zeyoudi, in the presence of Ambassador of India to the UAE, Mr. Sunjay Sudhir, and the Consul General of India in Dubai, seeks to amplify CEPA's influence. Committed to ushering in a new era of collaboration, UIBC-UC leverages its unparalleled network of 18 Founding Members representing leading Indian and Emirati business organizations. This consortium manages assets exceeding USD 1 trillion, positioning it at the forefront of fostering dynamic partnerships that shape the economic future of both nations. Building on a rich history of economic ties, UIBC-UC identifies strategic projects that businesses in both countries can undertake. This includes investments in infrastructure, manufacturing, technology, hybrid renewable energy, IT, tourism infrastructure, and shipping, enabling Indian businesses to use the UAE as a base for global expansion. UIBC-UC has played a pivotal role in significant projects like Emaar's Rs 500 crore FDI project in Srinagar, Bharat Mart, and The India Hospital. The Council also influences policy development between India and the UAE, offering members access to high-level delegations and key figures. Additionally, UIBC-UC facilitates involvement in marquee events, provides platforms for exchanging insights and best practices, fosters business networking, and advocates for policies supporting member interests. Ultimately, UIBC-UC envisions playing a vital role in assisting both governments to realize CEPA's objectives of elevating bilateral non-oil trade to USD 100 billion and securing USD 75 billion in investments from the UAE to India by 2030. For more information and to schedule interviews with UIBC-UC please contact: Nandini Vohra The Guild 050457 8233
Khaleej Times
30-01-2025
- Business
- Khaleej Times
UAE-India Business Council UAE Chapter (UIBC-UC) and Maharashtra forge strategic partnership to drive trade growth
In a significant step towards enhancing bilateral trade and investment, the UAE-India Business Council - UAE Chapter (UIBC-UC) and the Maharashtra Industrial Development Corporation (MIDC), Government of Maharashtra, have entered a strategic partnership, formalised through the signing of a MoU. The MoU was signed during the 'UAE – India: Partnership for Enduring Prosperity' event, which aimed to highlight the strengthening ties between India and the UAE across key sectors such as manufacturing, tourism, and hospitality. The event was part of a broader celebration of India's 76th Republic Day, organised by the Consulate General of India. Aimed at opening new doors for investment and trade between the UAE and Maharashtra and fostering deeper collaboration between UIBC-UC members and the state, this powerful partnership is supported by the UIBC-UC's network of 18 founding members, representing a collective force of leading Indian and Emirati businesses. With over $1 trillion in assets under management, these organisations are poised to significantly influence the economic growth and prosperity of both regions. The agreement establishes a comprehensive framework for cooperation, encouraging regular interactions between UIBC-UC members and Maharashtra government officials, including the Chief Minister of the state. The collaboration will focus on improving the ease of doing business for UAE companies in Maharashtra. Both parties will also work to actively promote investment opportunities in the state to UAE businesses. Moreover, the MoU will facilitate the annual exchange of business delegations between the UAE and Maharashtra, fostering stronger ties and business relationships. The agreement signed by Kshitij Korde, head of corporate affairs at UIBC-UC and P. Velrasu, CEO of MIDC, was later exchanged between Major General (Retd.) Sharafuddin Sharaf, vice chairman of Sharaf Group and vice chairman of UIBC-UC and Velrasu, in the presence of Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, Uday Samant, Minister of Industries and Marathi Language, Govt of Maharashtra, and Satish Kumar Sivan, Consul General of India to Dubai and Northern Emirates. This MoU signing was preceded by a closed-door meeting held between Uday Samant, Minister of Industries and Marathi Language, Govt of Maharashtra; Deependra Singh Kushwah (I.A.S.) Development Commissioner (Industries); P. Velrasu, CEO of MIDC; Dr Vijay Rathod, joint CEO of MIDC; and UIBC-UC members including Maj Gen (Retd) Sharafuddin Sharaf, vice chairman of UIBC-UC and vice chairman of Sharaf Group; Ankur Gupta, board member of UIBC-UC and head of corporate affairs and growth MENA at Tata Sons; Neeraj Tekchandani, CEO of Apparel Group, representing UIBC-UC Board Member Nilesh Ved; and Pankaj Khandelwal, CFO UAE & India of EFS Facilities Group, representing UIBC-UC Board Member Tariq Chauhan. Kshitij Korde – head of corporate affairs at UIBC-UC, and Neha Sahni – research specialist at UIBC-UC, were also present at the meeting. Faizal Kottikollon, chairman of UIBC-UC and KEF Holdings remarked: "This MoU marks a major milestone in strengthening the economic relationship between the UAE and India. By working closely with the State of Maharashtra, we aim to unlock new opportunities for trade and investment that will benefit businesses on both sides." "The state visits between the leaders of both countries in the last 4-5 years have been remarkable, with each side visiting more than four to five times, showing the strength of this relationship. Investments have jumped from $40 billion to $60 billion, then to $80 billion, with a target of $100 billion. This reflects the geopolitical shifts and growing economic ties between India and the UAE,' added Major General (Retd.) Sharafuddin Sharaf.
