France is the 11th largest foreign investor in India with a cumulative investment of US$10.49 billion from April 2000 to December 2022, which represents 1.68% of the total foreign direct investment (FDI) inflows into India, according to data provided by the Department for Promotion of Industry and Internal Trade (DPIIT). More than 1,000 French establishments are present in the country.
A release from the Consulate of France in Pondicherry and Chennai said Tamil Nadu has more than 170 French subsidiaries and serves as the key destination for French companies in India.
France is one of the country partners for the Tamil Nadu Global Investors Meet (GIM) 2024. This is the third time France is partnering with Tamil Nadu in GIM, the first in 2015 and the second in 2019. France had an exclusive pavilion at the GIM, which concluded on Monday.
“I am happy to start the New Year among you for this third edition of the Tamil Nadu Global Investors Meet. France maintains long and sincere bonds of friendship. Last year, we celebrated the 25th anniversary of our strategic partnership. The partnership between France and Tamil Nadu has also been getting stronger and a great example is us joining, once again as country partner for the third time for the GIM,” said Consul General of France in Pondicherry and Chennai Lise Talbot Barré in the release.
The French Pavilion brought together key exhibitors such as Technip Energies, Michelin, Valeo Group, Union des industries et métiers de la métallurgie (UIMM) (Union of Metallurgies Industries), Anywr Group, Precia Molen, Cryolor, Numeric and Claire Fontaine. Other major French players include Saint-Gobain, Renault, Stellantis, and Schneider Electric.
“This significant initiative aims at fostering economic ties between India and France, specifically with France and Tamil Nadu while showcasing the prowess of French companies in Tamil Nadu, a region with long-standing historic, cultural, and business significance,” said the release.
On Monday, the consul general addressed the gathering of a France country session at the meet in the presence of industry experts from the French business fraternity followed by a panel discussion on ‘Industry 5.0: Transforming the manufacturing landscape’ and a fire chat on ‘driving diversity & inclusion strategies in the workplaces’.
