Invest now or you would miss the bus: CM to French delegates

Source: The Hitavada      Date: 03 Nov 2018 11:41:38


Business Bureau,

Highlighting the strategical advantage of Nagpur region, Maharashtra Chief Minister Devendra Fadnavis on Friday told French delegates that it is ideal time for them to invest here. Speaking at the Indo-French Investment Conclave, he said that those who ‘miss the bus’ now would regret later.

“Right now the conditions are quite favourable for investment. Vidarbha offers enough land, surplus power, abundant water and good infrastructure that are attracting huge investments. But five years down the line such an opportunity might not be available for you as I believe that your competitors would have utilised it,” he said.

The conclave organised here at Hotel Radisson Blu by Indo-French Chamber of Commerce and Industry (IFCCI) in association with the Embassy of France and local industry bodies saw participation of more than 150 French delegates exploring opportunities in various sectors including logistics, defence production and urban mobility.

Alexandre Ziegler, Ambassador of France to India; Nitin Gadkari, Union Minister for Road Transport, Highways, and Shipping; Chandrashekhar Bawankule, Maharashtra Minister for Energy, New and Renewable Energy and State Excise; Guillaume Girard-Reydet, President, IFCCI, Payal Kanwar, Secretary General, IFCCI, were among the prominent persons present on the occasion.

Elaborating on the facilities that expected to make the region a perfect destination for investors, Fadnavis further said that power available in the State is cheaper than that is sold in adjoining states. “Gone are the days when Maharashtra’s power tariff used to be a big concern for investors. Apart from this we are all set to make Nagpur airport one of the best airports in the country. It would be better than the Mumbai airport,” he said.

Echoing similar sentiments, Gadkari said that the State and Central governments are working hard to build an eco-system in the region and elsewhere so that foreign investors could invest here. “Our Government is working in a very transparent and efficient manner which is proving beneficial to investors. The arrival of various multinational companies in the region proves this. In addition to this, we are further building up facilities,” he said.

In his address, Alexandre Ziegler said India and France share strong bilateral relations. “India is not just a market for us but it is our true partner. We have various core values that are common among us like democracy and rule of law. This has built a strong relation between the two countries and we want to take this relationship to the next level,” he said. The French Ambassador said he was impressed with the infrastructure facilities coming up in Nagpur. While expressing his views, Guillaume Girard-Reydet said Nagpur is emerging as a smart city which is likely to attract huge investment in coming days. Prassana Mohile, Chief Convenor of the event, said for the first tie in the history of the region that more than 150 foreign delegates are participating in any investment summit. Payal Kanwar, Secretary General, IFCCI, proposed the vote of thanks.

Besides French delegates, representatives of Vidarbha Industries Association (VIA); MIDC Industries Association (MIA); Butibori Manufacturers Association (BMA) and Vidarbha Economic Development Council (VED), Government officials, representatives of private companies and regional entrepreneurs were also present on the occasion.

12 agreements inked during Indo-French Investment Conclave

The first edition of Indo-French Investment Conclave held here on Friday saw twelve formal exchanges of collaboration agreements worth more than Rs 1,650 crore (Euro 200 million). The collaborations signed between French and Indian companies are expected to create 3,000 new jobs. Technique Solaire, a dynamic French energy SME had an exchange with MEDA, the Maharashtra Energy Development Agency.

The French giant, Thales Group set the stage for long-standing partnerships with seven Indian companies, namely Godrej Precision Engineering, Bharat Forge, Amphenol Interconnect India P Ltd, Larsen & Toubro, Solar Explosives, Mahindra Defence Systems and Coriollis. There was an exchange between Turgis & Gaillard, a French aeronautical company and Maharashtra Airport Development Company (MADC). 

Apart from this, POMA presented a Letter of Intent (LoI) for two projects in Nagpur and Tadoba. Accor Hotels and Interglobe Hotels Limited also exchanged a Letter of Intent.