Telangana eyes more French investments

Industries and IT Minister K.T. Rama Rao on Friday said that the State, whose able leadership, progressive policies and efficient bureaucracy has helped attract over $ 30 billion investment in seven years since its inception, is keen on playing host to more French investments.

Home to several French investments and facilities across varied sectors, the State would like to grow the engagement. In doing so, it would like to emerge as a gateway for mid-sized, small French companies into India, the Minister said, addressing the Indo-French Investment Conclave organised here by the Indo-French Chamber of Commerce & Industry (IFCCI).

“What I am looking to do is provide entry point into India, gateway for the mid-sized, small French companies. You are the guys who are going to grow big, going to be the next Safran, Airbus and I would like to be part of that growth story,” he said, while highlighting policy initiatives of Telangana, especially the TS-iPASS, that allowed for self certification and extended time bound approvals.

Noting that the State continued to grow fast and attracting investments on the back of its policies as well as advantages, including the strategic location, Mr. Rao said Hyderabad also made everyone feel at home. “No matter which part of India you are from, this is a melting pot, point of confluence where people can come happily, situate and find themselves at home,” he said, asserting how the State government treated investors as partners in progress.

Ambassador of France Emmanuel Lenain said there is possibility of more business in Telangana given the State’s emphasis on promoting innovation and the advantages it offered to investors. Overall, French investment in India is growing, he said, adding that firms have invested € 10 billion and provided 2,50,000 jobs.

Earlier, Deputy CEO of GMR Airports Antoine Crombez speaking on Telangana as an investment destination said that ₹6,300 crore would be invested on Hyderabad airport expansion. The airport, which was initially designed to handle 12 million passengers per annum, will see the capacity increase to 34 million passengers post the expansion project. In February 2020, GMR Infrastructure Limited had announced a strategic partnership with Groupe ADP of France for its airports business. Groupe ADP had acquired a 49% stake in GMR Airports.

The IFCCI Conclave was fourth in the series – Nagpur, Goa and Tamil Nadu hosted the previous editions – and showcased Telangana to a delegation of over 100 French company CEOs, CXOs and diplomats.

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Printable version | Nov 28, 2021 5:19:40 PM | https://www.thehindu.com/news/cities/Hyderabad/telangana-eyes-more-french-investments/article36906469.ece

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