The Indo-French Chamber of Commerce and Industry (IFCCI) organized its 43rd Annual General Meeting on the 24th Sept 2020, which was held virtually for the first time.
Panelists in discussion at the 43rd AGM of IFCCI
The AGM emerged as a participatory and interactive knowledge platform that brought together diverse global leaders to deliberate upon the horizons for India. The debates and discussions on the all-important theme of “Can India become a key global market and a global hub for manufacturing” was kick-started by H.E. Mr Emmanuel Lenain, Ambassador of France in India.
Mr. Alain Papiasse, Chairman of Corporate and Institutional Banking, BNP Paribas mentioned, “There is no doubt that India is already a key global market, it is among the Top 5 economies in the world, and has a growing middle class, which is both young and aspirational. As a manufacturing hub, it has made great strides in sectors like automotive and pharma, and in a post COVID world, it is likely to add other sectors, as companies will look to de-risk operations by not concentrating entire supply chains in one location.”
Ms. Namita Shah, President, People & Social Responsibility, Total Group expressed, “India has all the ingredients to leverage itself into a world leader: technically qualified young workforce, innovation & digital capabilities and tremendous market potential. As India continues to grow its manufacturing capabilities, so will its energy needs. India is home to one of the largest clean energy expansion programs and Total is committed to the country in this ambitious transition.”
Mr. Sumeet Anand, President of IFCCI, similarly reiterated, “India is an attractive hub for foreign investments as a growing large market as its projected to double its economy in the next decade, as well due to its competivity in an increasing number of sectors in a favorable global context for India. French groups are now among the top foreign investors in India, thereby also providing an opportunity for Indian companies to partner with them! Indian companies should also now focus on France which was ranked as the most attractive FDI country in Europe and benefit from French Govt efforts to partner more with Indian companies in France.”
The objective of this interactive Virtual AGM in addition to presenting IFCCI’s financials, giving an overview on IFCCI and declaring the Election results was to create an opportunity to get global leaders on the same platform where they could share their thoughts to discuss opportunities to make India the next Key Global market and a Global hub for manufacturing.
The AGM had a participation from the Global Leadership of companies like ARaymond France, BNP Paribas, HAROPA Ports, Michelin, Thales, Total Group and was attended by almost 700 delegates from all walks of life. It evoked new ideas and innovative thoughts on a range of opportunities admissible to the country at the current juncture.
The Indo-French Chamber of Commerce and Industry is committed to support its member companies and to promote bilateral trade between the two countries to achieve sustainable economic development.