Indo-French Business Awards (IFBA) recognise businesses that showed resilience during the pandemic
The award ceremony was attended by business leaders from prominent Indo-French companies across sectors like Aerospace & Defence, Mobility, Energy & Consumer Goods to name a few, in a seated formal business dinner.
The Indo-French Chamber of Commerce and Industry (IFCCI) organised the third edition of its flagship event, the Indo-French Business Awards (IFBA) in the presence of French Ambassador, H.E. Emmanuel Lenain and Honourable Minister for Roads, Transport and Highways and MSME, Nitin Gadkari.
The award ceremony was attended by business leaders from prominent Indo-French companies across sectors like Aerospace and Defence, Mobility, and Energy and Consumer Goods to name a few, in a seated formal business dinner.
Around 120+ applications from all over India and France received awards in 13 categories. The maximum number of applications received were for “Resilience in Business during COVID-19” category. Among these are, , and Accor India and South Asia.
“French companies are increasingly investing in India, going local to leverage partnerships with Indian partners and reshaping global supply chains. Moreover, it is heartening to observe how companies are dedicating more funds to CSR initiatives to tackle the pandemic. Last but not least, we have seen an increasing interest of Indian companies to invest in France, even during the pandemic,” H.E. Mr Emmanuel Lenain said at the event.
Despite logistical and operational challenges, French companies heavily invested in COVID-related CSR initiatives in India. There were special awards given to promising young French professionals under the VIE programme which is managed by Business France.
“The Nagpur metro is financed by the financial institution of France and they are doing excellent work. We have a very long relationship. I am giving my best wishes to all award winners and assuring them that whatever the development from investors from France side, we will co-operate with them and support them. This will be a win-win situation as it will be beneficial for both the countries,” said Nitin Gadkari.
France is considered the sixth-largest economy, and the 9th largest foreign investor in India. There are more than 1,000 French establishments (ranging from MNCs to SMEs) present in India and for new entrants, it is the priority investment destination.
Payal S Kanwar, Director General, IFCCI said, “French investments in India are booming and we are observing bilateral trade relations between both countries gaining momentum. FDI has quadrupled over the past ten years and French companies have a widespread presence across the country. There have been some recent large investments in infrastructure, energy, consumer goods, agribusiness, IT and auto sectors. Today’s award ceremony is a testament to their commitment and success in India”.
Furthermore, France is one of India's largest scientific partners, with over 25 French R&D centres, 15 joint Indo-French research laboratories and 500 collaborative projects in the country. France has also emerged as India’s trusted Defence and Strategic partner. The European leader is also partnering with India to develop Chandigarh, Puducherry, and Nagpur as smart cities with a commitment of over $2.2 billion for the latter’s smart cities project.
This year, the Union Cabinet signed a Memorandum of Understanding (MoU) between India and France in the field of renewable energy cooperation towards the development of technological know-how and thereby aid the process of attaining the ambitious target of 450 GW of installed Renewable Energy capacity by 2030.
Edited by Kanishk Singh