The commerce ministry announced today that in order to promote investment facilitation and cooperation between startups of the two countries, Business France and Invest India have signed a Memorandum of Understanding (MoU). The goal is to facilitate direct foreign investment by providing practical investment information to enterprises. This along with supporting the companies that will pursue these opportunities will contribute positively to the economic growth of the two countries.
With the aim of promoting business and startup ecosystem cooperation through joint activities, Invest India and Business France will exchange experiences to strengthen institutional knowledge. According to reports, this partnership will also reinforce the existing business relations between France and India while providing a unified facilitation channel for new businesses. Through this the new innovations will be able to grow in the country’s respective markets.
The official Investment Promotion and Facilitation Agency of the Government of India, Invest India is authorized to facilitate investments in the country. It is the top choice for potential international investors in the country. One of the fastest growing economies in the world, India is said to grow at consistently higher rates during next few decades. Under the supervision of Finance and the Minister of Foreign Affairs and International developments and the Minister for Economic Affairs, Business France is an executive agency of the French government. Through a worldwide network of 80 Trade Commissions, Business France promotes International Business Development for French companies and professionals. It mobilizes the expertise of 1,400 persons in France and in 70 other countries.
MD and CEO of Invest India, Deepak Bagla said that the partnership will see cross-pollination of ideas talent and technologies between the start-up ecosystems of India and France, which are among the world’s largest and most vibrant. Director South Asia Business France, Sophie Clavelier said that the partnership with India will help Business France to create new opportunities, catalyse joint collaboration, and help innovative startups to be successful.
News Source: PTI