France, TN sign MoU to boost investments, promote ease of doing business

at 11:30 pm
France, TN sign MoU to boost investments, promote ease of doing business

New Delhi (NVI): An MoU was signed between the French government and Tamil Nadu’s Industrial Guidance and Export Promotion Bureau and the Indo-French Chamber of Commerce and Industry today to boost mutual investments and promote ease of doing business.

The development took place during the visit to French envoy to India Emmanuel Lenain to Chennai today. The French ambassador is on a two-day visit to Tamil Nadu from December 7-8.

During his visit, Lenain held talks with Tamil Nadu Chief Minister Edappadi K. Palaniswami and discussed how French companies can contribute to Tamil Nadu’s goals in industry, R&D and sustainability, as well as opportunities in the Indo Pacific. They also discussed people-to-people exchanges between the two countries.

“Proud to witness @Guidance_TN & Indo-French Chamber of Commerce @IFCCI1 signing an MoU that will foster investments & promote ease of doing business. A great step forward to harness the many business opportunities between France and #TamilNadu!,” the French envoy said in a tweet.

Lenain also visited the main factory of Royal Enfield motorbike company. Pertinent to mention here that Royal Enfield has established a site in France to cater to the European market.

“Royal Enfield’s motorbikes are truly iconic. We are proud that @royalenfield has chosen France to further expand its presence in Europe. As the top FDI destination in EU, France can be the gateway to Europe for Indian investors. #ChooseFrance,” he said in another tweet.

The French envoy also visited French company Air Liquide’s medical system facility manufacturing medical ventilators. He said in a tweet that the French company chose Tamil Nadu to set up an advanced medical systems facility.

“France’s @airliquidegroup chose Tamil Nadu to set up an advanced medical systems facility. During the worst of the pandemic, they ramped up production to supply 1000 ventilators to Tamil Nadu’s hospitals, mirroring the support that Flag of France & Flag of India lent each other during this crisis,” he tweeted.

In another tweet, Lenain said: “#TamilNadu shares special ties with France through its 5000-year culture and unique geography. It is also one the most dynamic and innovative places in India. My visit to #Chennai aims to boost our partnership and discuss new Flag of France investments in Tamil Nadu’s priority sectors.

Notably, Tamil Nadu, which attracts a significant share of all French investments in India is home to more than 140 French companies in automotive, healthcare, industry, digital technologies, services and energy space.

-ARK