(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.)
NEW DELHI, Oct. 22, 2019 /PRNewswire/ -- On the 21st October 2019, H.E. Mr. Emmanuel Lenain, Ambassador of France to India and Mr. Christophe Lecourtier, CEO of Business France, held a press conference at the Residence of France, where Ambition 2020 was launched.
France's new dynamic image will enhance bilateral economic ties.
Economic relations between India and France are booming thanks to a solid foundation: approximately 600 French companies established in India; a continuous flow of new investments that continues to place France among the top countries in terms of FDI; and more than 350 000 workers employed in French companies in India, covering almost all sectors of activity.
H.E. Mr. Emmanuel Lenain, Ambassador of France to India stated, "France's new dynamic image has opened up fresh prospects, which it is up to us to highlight. And with India's booming economy growth averaged 7.1% over the last 20 years with peaks over the last 5 years, it is the moment of India for the French exporters."
French companies do not regard India as a short-term market or just a business opportunity. "They come forward as partners and engage in a lasting relationship with this country. They invest in India, they create jobs in India, they make in India, and they also innovate in India, as the country is offering huge opportunities," detailed H.E. Mr. Emmanuel Lenain.
Indian investors Choose France
France is already the home of over 28 000 foreign companies, employing two million people and accounting for 21% of R&D expenditure and 31% of French exports. A total of 1,323 investment decisions in France in 2018 - at an average of 25 decisions per week - created or maintained 30,302 jobs. Investments at new sites increased by 14% in 2018, with 741 new decisions, thus representing more than half (56%) of total investments. There were 500 investments that involved the expansion of existing operations, thereby generating 15,588 jobs in 2018. 17 Indian investment decisions in France were recorded in 2018, and more than 150 Indian companies already in France, employing more than 7,000 people, Indian investments reflect the improvement in France's image as a business hub.
"I invite Indian investors to France as a business location. Today, there is a renewed confidence that foreign investors have in France. It is known as Europe's leading destination for industrial investment for more than 15 years, a vibrant tech and innovative environment which has direct access to 500 million consumers; a market which represents 22% of the World GDP and 6.5% of the world population. In France, major structural reforms have been implemented recently to ease doing business like the reformation of the labour law and the decrease in corporate tax rate making the financial sector more competitive. There has never been a better time to choose France," expressed Mr. Christophe Lecourtier, CEO of Business France.
Ambition India to establish long term business partnerships.
To strengthen trade and investment links between French and Indian companies, Business France organise its major annual Indo-French Business Forum, Ambition India.
"This big event, premiered on May 21st 2019, was a great success that witnessed more than 250 French and Indian participants, 61 high-level speakers, 11 thematic and sectorial round tables and more than 300 B2B meetings. Thanks to a strong presence of experts, advisors, and representatives of government bodies, French companies were informed of the Indian government's policies and the country's regulatory framework" detailed Mr. Christophe Lecourtier.
Business France and the partners of the Team France Export in the regions, various institutional partners (the Indian Embassy in Paris, AFD, Bpifrance, MEDEF International, Confederation of Indian Industry), knowledge partners and speakers led to this success of Ambition India 2019. The key sponsors were as follows: Air France, Altios Consulting, Crédit Agricole, DS Avocats, Expat Partners, Galeries Lafayette, MDG Associates, Pramex International - Groupe BPCE, SAS Partners Corporate Advisors, SKP Consulting and Trilegal.
After the triumph of their first edition of Ambition India 2019, Business France is pleased to announce the launch of Ambition India 2020, scheduled end of April 2020 in Paris, with existing and new partners (Indo-French Chamber of Commerce, Atout France etc.) and a strong focus on 3 topics: Innovation, the Indian consumer and Make in India.
About Business France
Business France, the national agency supporting the international development of the French economy, is responsible for fostering export growth of French businesses, as well as promoting and facilitating international investment in France.
It promotes France's companies, business image and nationwide attractiveness as an investment destination, and also runs the VIE international internship programme.
Business France has 1,500 personnel, in France and in 58 other countries throughout the world, who work with a network of partners.
For further information, please visit: www.businessfrance.fr
Business Forum Ambition India: www.ambitionindia.fr