Telangana Minister To French Companies

KT Rama Rao mentioned, "Telangana is one of the fastest-growing states in the country."

New Delhi: In an aggressive funding push, Telangana's Industries Minister KT Rama Rao on Friday provided sops for the French firms that want to spend money on the nation. Speaking on the fourth Indo-French Investment Conclave 2021, in Hyderabad, the Minister mentioned, "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 said.

In his handle, Mr Rao talked about that Hyderabad International Airport will obtain Rs 6,300 crore for rising its capability to 34 million passengers, backed by France's Groupe ADP partnership. He additionally mentioned that French fruit drinks manufacturing firm Georges Monin has doubled funding in its upcoming manufacturing plant in Telangana to Rs 200 crore.

Mr Rao, additional said, "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 authorities has attracted crores of funding to the State and has created lakhs of employment alternatives within the area."

The Ambassador of France to India, Emmanuel Lenain, said: "France and French firms are totally dedicated to rising their presence in Telangana and seizing the various alternatives of this thriving, innovation-oriented state. Many French teams have already invested in Telangana, significantly in biotech, IT and aeronautics. These Indo-French enterprise endeavors in key sectors in Telangana additionally assist to strengthen the strategic partnership between our two nations."

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 funding in India and may already see the sturdy and profitable institution of firms like Safran, Sanofi, Mane, Monin, Capgemini, amongst many others."