New Delhi: In an aggressive investment push, Telangana's Industries Minister KT Rama Rao on Friday offered sops for the French companies that are looking to invest in the country. Speaking at the fourth 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 the other states are offering, we will meet or beat their offer," he stated.
In his address, Mr Rao mentioned that Hyderabad International Airport will receive Rs 6,300 crore for increasing its capacity to 34 million passengers, backed by France's Groupe ADP partnership. He also said that French fruit beverages manufacturing company Georges Monin has doubled investment in its upcoming manufacturing plant in Telangana to Rs 200 crore.
Mr Rao, further stated, "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 has been giving approvals for various investment proposals within fifteen days.
He added that through this policy, "the state government has attracted crores of investment to the State and has created lakhs of employment opportunities in the region."
The Ambassador of France to India, Emmanuel Lenain, said: "France and French companies are fully committed to increasing their presence in Telangana and seizing the many opportunities of this thriving, innovation-oriented state. Many French groups have already invested in Telangana, particularly in biotech, IT and aeronautics. These Indo-French business endeavors in key sectors in Telangana also help to strengthen the strategic partnership between our two countries."
The Indo-French Investment Conclave (IFCCI) are aimed at focusing on promising states to attract French investments and boost trade between the two nations.
Payal S Kanwar, Director General, IFCCI said, "Telangana is a key state for French investment in India and can already see the strong and successful establishment of companies like Safran, Sanofi, Mane, Monin, Capgemini, among many others."