The transformation of India is at the heart of Prime Minister Narendra Modi’s strategy of “Make in India” which aims to facilitate and accelerate entrepreneurship in all areas, not just industrial, by extending its economic and social development. The strategy is positively promoting a good business environment, development of first-class infrastructure, opening up of new areas for investment and rebuilding of partnership modes.
In this great project France would ensure its place, and the French companies have clearly demonstrated their interest in India’s loyalty and commitment, quality of production and industrial management. At the political level, the bilateral relations between France and India have been further strengthened with the visit of French President Francois Hollande to India in 2013 and Mr. Modi’s recent visit to France.
Making these observations at his inaugural address at the Indo-French seminar on ‘Make in India’ jointly organised by the Indo-French Chamber of Commerce and Industry (IFCCI) and the Madras Chamber of Commerce & Industry (MCCI) in Chennai, Mr. Philippe Janvier-Kamiyama, Consul General of France, said all the ingredients of the French companies to adapt to the great Indian national project would ensure further trade and industrial co-operation between the two countries. Of importance in this context is the recently published White Paper on ‘Make in India’ by the Embassy of France in New Delhi.
He said France now has 1,051 locations or French entities in India, attached to 394 headquarters, which are Indian subsidiaries of companies or groups based in France. This French presence is expected to widen further with the number of employees now at 300,000 against 240,000 in 2013. The overall turnover of the French companies in India now exceeds $20 billion as against $18.5 billion in 2013, and the investment has grown from $17 billion to $19 billion during the period.
Since 2003, about 30 new French establishments are being set up every year. In this, the share of SMEs is much higher at 50 per cent. All the French companies are very active as is reflected in the expanding areas of their operation.
In this context of ongoing dialogue between the two countries, Prime Minister Modi’s ‘Make in India’ has emerged as a rare opportunity for furthering the mutual relations between France and India, Mr. Philipe added.
In his special address, Mr. Atul Chaturvedi, Joint Secretary, DIPP, Union Ministry of Commerce and Industry, said the whole world is looking at India for investment opportunities in a democratic set-up. Also, Prime Minister Narendra Modi’s vision of ‘Make in India’ campaign with its mission of zero defect has started gaining momentum with its attainment of global recognition. India has also emerged as a country of ‘job creation’ with the aim of creating 100 million jobs in the next few years. In order to achieve the different goals set under the new strategy, the Government has identified the four main pillars, namely, new processes, new infrastructure, new sectors for investment and creating a new mindset.
Making a presentation titled “Tamil Nadu – An Opportunity Beckons”, in his keynote address, Mr. C.V. Sankar, Additional Chief Secretary, Industries Department, Government of Tamil Nadu, said though India has been more often called a sleeping giant, it is really achieving a steady growth year after year.
He also highlighted the strength of Tamil Nadu which tops the list in different fields, including automobiles, auto components, etc. Currently the State, with a production capacity of 3.5 million vehicles, accounts for 70 per cent of India’s passenger car production. The new Automotive Policy announced by the State Government in 2014 has also paved the way for new investments not only from Indian companies but also from several multinational majors.
Referring specifically to the relationship between Tamil Nadu and France, Mr. Sankar said as many as 65 French companies are currently operating in the State, including Renault Nissan, Michelin, Saint Gobain and Alstom, all of whom have invested heavily in their respective plants.
Earlier, welcoming the gathering, Ms. K. Saraswathi, Secretary General of MCCI, said France is one of the topmost partners of India, and the French companies are very successful in their Indian operation.
Mrs. Laura Prasad, Secretary-General, IFCCI, in her concluding remarks, said there is greater scope to widen the Indo-French bilateral trade relationship in the years to come.
A panel discussion on infrastructure, skill/manpower, governance framework, collaborations, case studies, experience sharing, etc., was also arranged during the seminar in which the CEOs of various French and Indian companies shared their views.