The Indo-French Chamber of Commerce (IFCCI) is set to establish its first office in Kolkata, aiming to boost French investment in West Bengal and other parts of eastern India. This will mark the chamber's inaugural presence in the eastern region.
Payal S Kanwar, Director General of IFCCI, recently visited Kolkata with officials from the chamber and the French embassy. She informed TOI that the chamber is also exploring the possibility of hosting an Indo-French investment conclave in Kolkata towards the end of this year. The French delegation engaged with government officials, chambers of commerce, and local industry leaders.
"Today we met the finance secretary, tomorrow we are meeting the state finance minister. We are actually exploring a big event with French companies later this year. The idea is to do something big but this is at an exploratory stage," Kanwar said. She emphasized the chamber's keen interest in promoting the state as an attractive investment destination.
Currently, 40 French companies, including the major player Capgemini, operate in West Bengal. However, Kanwar noted that this presence is relatively low compared to the rest of the country, where 800 French companies operate. "We would like to see more French companies operate in Bengal," she added.
During the meeting with the French delegation, Indian Chamber of Commerce Senior Vice-President Parthiv Neotia highlighted the optimism in the business sector following the formation of the new government last month. It was discussed that West Bengal, with its diversified industrial base and an ecosystem of over 2,000 recognized start-ups, is well-positioned to attract French investments. The upcoming EU-India Free Trade Agreement and the state's strategic location as a gateway to the northeast and the BIMSTEC region further enhance its attractiveness as a business and investment destination.
