French SMEs to increase presence in India
With large French firms enhancing their presence in India, France said that it would focus on small and medium enterprises (SMEs) to provide impetus to the sector to tap the growing Indian market.
"While 300 French companies are active in India, employing nearly 40,000 people, French SMEs are still lacking in number," French Ambassador, Dominique Girard, said while addressing the media here on Friday, 26th Nov 2006
He said France had more than two million SMEs representing 64 per cent of that country's total employment. At present, only 1,400 these SMEs were exporting their products to India. "The commercial action plan launched in February by French Minister of Foreign Trade, Christine Lagarde, aims to bring 500 SMEs to India over 2006-08," Mr. Girard said.
The Federation of Indian Chambers of Commerce and Industry (FICCI), the French Embassy and UBIFRANCE would organise an Indo-French business meet in December, aimed at enabling Indian mid-sized companies and large business groups to network with multi-sector French SMEs.
The main objective of the meet was to increase the number of French SMEs in India. This would throw up opportunities for Indian businessmen for collaboration with a large number of French SMEs, Mr. Girard said.
Bilateral trade between India and France has grown by an average 26 per cent a year, representing an annual figure of four billion euro and it will not be difficult for the two nations to double bilateral trade in the next five years, given the mega deals that are being signed between Indian and French companies.
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