New Delhi: In a boost to aggressive investment, Telangana Industries Minister KT Rama Rao on Friday offered exemptions for French companies looking to invest in the country. Speaking at the 4th Indo-French Investment Conclave 2021 in Hyderabad, the minister said, “Telangana has already been a preferred destination for IT, aerospace, life sciences and pharma companies including French companies.”
“If a French company wants to invest in India and can mention what other states are offering, we will meet or beat their offer,” he said.
In his address, Mr. Rao mentioned that Hyderabad International Airport will receive Rs 6,300 crore to increase capacity to 34 million passengers, supported by France’s Groupe ADP partnership. He also said that French fruit beverage manufacturing company Georges Monin has doubled the investment in its upcoming manufacturing plant in Telangana to Rs 200 crore.
Mr Rao further added, “Telangana is one of the fastest growing states in the country. Since the formation of the state, the state government has been introducing innovative policies to attract global firms and investments.
Highlighting the TSiPASS policy (Telangana State Industrial Project Approval and Self Certification System), the minister said that the Telangana government is clearing various investment proposals within fifteen days.
He said that through this policy, “the state government has attracted crores of investment in the state and created lakhs of employment opportunities in the region.”
French Ambassador to India, Emmanuel Lenin, said: “French and French companies are fully committed to increasing their presence in Telangana and seizing the many opportunities of this thriving, innovation-oriented state. Several French conglomerates are already in Telangana. These Indo-French business efforts in key sectors in Telangana also help strengthen the strategic partnership between our two countries.”
The Indo-French Investment Conclave (IFCCI) aims to focus on promising states to attract French investments and boost trade between the two countries.
IFCCI Director General Payal S Kanwar said, “Telangana is a major state for French investment in India and can already see strong and successful establishment of companies like Safran, Sanofi, Mane, Monin, Capgemini among many others.”