Tamil Nadu - Chennai   

French companies probe investment chances

Special Correspondent

"Indian investments in France, now standing at $58 million, need to be increased" "Indian investments in France need to be increased"

FURTHERING TRADE TIES: (From left): Joelle Rayet, Consul General, Embassy of France, Puducherry, with Somindra Hazari, executive committee member, Southern India Chamber of Commerce and Industry, Chennai; A. Kausalya Devi, honorary consul of France in Chennai; and Jean Louis Poli, Trade Commissioner, Embassy of France, New Delhi, at a meeting in Chennai on Wednesday. — PHOTO: V GANESAN

CHENNAI: French companies have planned a lot of business activities in Chennai, including exploring investment opportunities, Jean Louis Poli, Trade Commissioner, Embassy of France, New Delhi, said on Wednesday.

Several French business delegations would visit the city soon to take this interest further, he said at an interactive meeting on `Indo-French Trade Relationship and Opportunities Ahead,' organised by the Southern India Chamber of Commerce and Industry, Chennai.

Tamil Nadu offered a lot of opportunities in food processing, and Chennai was emerging as India's automobile capital. All of this triggered a lot of enthusiasm about French businesses. Along with the U.S., Japan, China and Russia, India was being given top priority in trade by the French Government, he said.

India was one of the 15 most privileged trading partners of France, and the areas of potential cooperation were water management, power and biotechnology, said Joelle Rayet, Consul-General, Embassy of France, Puducherry.

The French had invested a total of $750 million in India, while Indian investments in France were only $58 million. This needed to be enhanced, she said.

France was India's fifth largest trading partner in the European Union, which was also the second most important destination of India's exports, Somindra Hazari, executive committee member, SICCI, said.

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