During a conference in Kolkata on Monday, business leaders and French officials expressed optimism that new trade and investment opportunities could arise in West Bengal as a result of the renewed impetus in India-France economic relations, which followed Prime Minister Narendra Modi’s recent trip to France.
Guests of honour from the French diplomatic mission, Indo-French business leaders, and other industry heavyweights gathered at the Indian Chamber of Commerce for a series of meetings meant to discuss ways to deepen economic ties and entice investment from France.
Payal Kanwar, Estelle David, Dana Brahimi, Florent Mangin, and Thierry Morel were all in attendance.
Given the significance of the 19 agreements announced by India and France during Modi’s visit to France, including innovation, artificial intelligence, civil nuclear energy, trade, and other vital industries, the meeting took on more significance.
In a joint statement following the talks, the two nations committed to doubling their bilateral trade in the next five years, launching an Innovation Roadmap 2030, bolstering their collaboration in digital governance and scientific research, and launching programs to encourage start-up collaboration.
The revitalisation of ties between India and France will be good for West Bengal, according to ICC Senior Vice President Parthiv Neotia.
He made the observation that French businesses looking to grow their footprint in India may find an accommodating environment thanks to forthcoming economic policy measures by the West Bengal administration. Additionally, Neotia highlighted the potential for collaborations that are in line with the larger agreement on cooperation between the two nations.
The significance of ensuring that West Bengal is positioned to reap the benefits of the planned mechanism to boost bilateral commerce between France and India from approximately USD 16 billion to nearly USD 32 billion over the next five years was emphasised by participants.
French investment could be enticed by West Bengal’s dynamic industrial ecosystem, strategic location, and good export performance, according to industry representatives. According to ICC, the state is home to more than 2,000 recognised start-ups and exported items worth over USD 12 billion in FY25.
Image: News 18
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