Mumbai: In a strategic move to deepen Indo-French trade relations, the Indo-French Chamber of Commerce and Industry (IFCCI) and the Maharashtra Industrial Development Corporation (MIDC) signed a renewed Memorandum of Understanding (MoU) to drive French investments in Maharashtra and promote industrial expansion within the state.
The MoU was formalized during a high-level roundtable titled “The Ease of Doing Business in Maharashtra,” which brought together over 25 CEOs and senior leaders from top French companies operating in sectors such as automotive, renewable energy, IT, transport, construction, chemicals, and consumer goods.
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Signed by P Velrasu, CEO of MIDC, and Benoit Renard, Vice President of IFCCI and Managing Director of Air Liquide India, the agreement marks a continuation of the initial MoU signed in 2021, reinforcing collaborative efforts to:
- Attract new French companies to Maharashtra
- Support the expansion of existing French businesses
- Foster a conducive industrial climate through policy dialogue
- Accelerate the state’s ‘Ease of Doing Business’ agenda
Payal S Kanwar, Director General of IFCCI, stated, “France has deep economic roots in Maharashtra. This MoU underscores our collective efforts to encourage French investments in Maharashtra and job creation in the state. It also reflects the growing confidence French companies have in Maharashtra as a business destination.”
P Velrasu, CEO, MIDC, welcomed the renewed partnership, emphasizing MIDC’s commitment to addressing industry concerns and ensuring an inclusive, growth-oriented industrial environment. “Such forums are essential for continuous dialogue between government bodies and global investors,” he added.
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French investments in Maharashtra: Strengthening Indo-French Industrial Corridor
The event also featured the presence of Sami Bouakaze, Deputy Consul General of France in India, and Benoit Gauthier, Minister Counsellor for Economic and Financial Affairs at the French Embassy, along with several key French investors and stakeholders.
This renewed MoU is poised to further strengthen the Indo-French industrial corridor, French investments in Maharashtra, promoting innovation, sustainable development, and mutual prosperity between France and Maharashtra.
