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France, the new European place for Finance

Purva Marwaha - 27-juin-2019 13:18:39
France, the new European place for Finance   DID YOU KNOW? 4 reasons why France is becoming the new European place for Finance   1. A LEADING ECONOMY #5 world’s economy #2 European market: €2,210 bn (2017) up 2% GDP growth in 2018 Euronext: Eurozone Equity #1 stock market in capitalization   2. A LEADING FINANCE INDUSTRY     IN THE EUROPEAN UNION #1 for asset management #1 for private equity and venture capital #1 for insurance and banking solutions 6 French schools in the Financial Times ’s global Top 12 for best Masters in Finance   3. MAJOR OPPORTUNITIES #1 concentration of global Top 500 corporate HQs in Europe #2 household savings rate in Europe #1 R&D environment in Europe Pro-business government and local authorities   4. AT THE HEART OF THE EUROZONE A direct access to 500 million European consumers Relocation of the European Banking Authority in Paris An access to Europe, through the financial EU passport, and a gateway to the world, through bilateral agreements     A PRO-TECH GOVERNMENT “France is witnessing reform at a rate never seen before” Financial Times - May 17, 2018   1. LABOR MARKET New Labor Law: November 28, 2017 Greater flexibility : more flexible rules governing dismissals; company-level bargaining Reduced costs : financial cap in courts on damages for unfair dismissals   2. TAX CUTS 30% flat tax on capital Reduction of corporate tax from 33.3% to 25% by 2022 Abolished: wealth tax + exit tax   3.   NEW REGULATION Pro-immigration: fast-track “Tech Visa” for foreign entrepreneurs & employees Fostering AI : opening of State-owned data, e.g. in healthcare & transportation Crypto / ICO: new pro-innovation regulation   4. INVESTING IN THE FUTURE: INVESTING IN CAPITAL Launch of the Next 40 index €10 billion public fund for innovation and industry €50 billion investment plan for the digital transformation     FRANCE IS THE IDEAL SPRINGBOARD FOR GLOBAL FINANCE An easy access to the European financial market through the EU Passport and MoUs signed by French NCAs with non-EU regulation authorities   CHOOSE FRANCE 

Attractiveness recognized, French innovation acclaimed!

Purva Marwaha - 27-juin-2019 13:07:07
Attractiveness recognized, French innovation acclaimed!     The “France Attractiveness Survey” published by EY beginning of June 2019 records the international investments made in Europe each year and analyzes the perception that foreign economic decision-makers have of France; as such, it measures real and perceived attractiveness compared with France’s leading competitors.   Against a backdrop of falling investment decisions in Europe (-4% of projects recorded between 2017 and 2018), France confirmed its attractiveness, coming in second place of host countries in Europe, and recapturing the rank it had previously lost in 2010. With growth in projects of 1%, compared with a decrease of 13% in the United Kingdom and Germany, France posted 1,027 recorded projects and continues to build its image with economic decision-makers.   The image of an industrial and innovative France emerges in this barometer, with a strong dynamic of R&D investments and the maintenance of France’s industrial leadership of Europe. For the first time, France is ranked first among European countries as a destination for innovative investments (with 144 projects), bringing together more innovative projects than Germany and the United Kingdom combined.   There are over 150 companies controlled by an Indian investor operating in France, where they employ more than 7,000 people. Seventeen investments from India were recorded in France in 2018, creating or maintaining 141 jobs. Samvardhana Motherson Group and Rahman Group were a few big investments and re-investments made in France in 2018.     Indian projects often involved decision making centers (59% of projects; 53% of jobs) and production/manufacturing operations (18% of projects; 34% of jobs). Investments were mainly made in the software and IT services sector (24% of projects; 30% of jobs), and the machinery and mechanical equipment sector (12% of projects; 21% of jobs).   France also confirmed its leadership as a host country for industrial investments in Europe, with 339 recorded projects, or 5% more than in 2017, as it continued to hold top spot for more than 15 years.   The perception survey that completes the report shows that since the start of 2019, France’s image has remained positive, despite a difficult social climate; 80% of investors set up in France declare themselves to be satisfied or very satisfied with their investments in France, while also highlighting that France must pursue its efforts to increase its attractiveness in fields as varied as education and training; reducing labor costs; reducing taxation; and supporting SMEs and mid-size companies.   “France is modernizing its economy and investors are sensing this strongly as they make long-lasting investments in our country. These results can be read coherently with the record year for foreign investment recorded by Business France. The support provided by the government to high-tech industries and innovative projects, even though it must always be constantly supported, is helping our teams at Business France to convince people and is helping investors to choose France as a destination for their European operations,” said Christophe Lecourtier, CEO of Business France.   “France is convincing more and more decision-makers. The reforms being led and confirmed by the French government show the collective will that exists to make our country more competitive and attractive. The successes of VivaTech and Tech For Good, as well as the emergence of future unicorns, clearly positions France as a European leader in innovation, as shown by the 144 R&D investment projects recorded by this report. From my recent meetings with investors in Hong Kong, Singapore, Berlin and New York, I know that this strong message about a France on the move is being heard. We remain strongly committed to make the potential of France better known, which is particularly necessary work with our non-European partners. We have to capitalize on this!” said Pascal Cagni, Chairman of the Board of Business France.

Indian Maritime sector: an Ocean of Opportunities

Purva Marwaha - 26-juin-2019 13:46:42
As India grows to be one of the major economies in the world, it will require a vibrant and strong maritime industry to strategically support this growth. India is the 16 th largest maritime country in the world and its maritime transport handles around 95% of India’s trading by volume and 70% in value terms. India’ s strategic location along most major shipping highways , with a vast coastline of 7500 km, endorses the growth of a Blue Economy   in a sustainable, inclusive and people centred manner.   India  is developing its  maritime infrastructure   as well as its inland waterways and coastal shipping through the launch of several major initiatives such as the Sagarmala project, ports modernization and Inland Waterways & Coastal Shipping development, which will revolutionize maritime logistics and port led developments in the country. India’s ambitious Sagarmala programme has identified 600 plus projects entailing huge investment of around 120 billion dollars by the year 2020. This will save nearly 6 billion dollars per annum in logistics costs besides creating 10 million new jobs and boosting port capacity by 800 MMTPA to an overall 3500 MMTPA. Coastal Economic Zones (CEZs) are being developed under Sagarmala with a proposed investment of 150 Million dollars per location. These CEZs will thus foster blue economy wherein industries and townships that depend on the sea and contribute to global trade through sea connectivity are envisaged. The Indian Navy too, is giving a strong push to the Make in India initiative as it strives for self-reliance in the production of warships.  Also, in view of the recent regulations to control emissions from ships set by International Maritime Organization, there will be a growing need to collaborate for environment-friendly technology & solutions, such as LNG powered vessels, as well as green ports. In the pursuit of these endeavours, another key area is training & development of manpower, university partnerships to encourage innovation, knowledge sharing and transfer through partnerships and technological assistance from maritime countries to orient the workforce towards world-class manufacturing techniques and processes. Keeping this ambition of India in mind, Business France in partnership with the maritime cluster, will be organising a Maritime days event focusing on important sub-sectors like port infrastructure development, port modernisation, shipbuilding, waterways etc. This program is scheduled to take place in November 2019 . If you wish to collaborate with us for this event, please write to zaver.mistry@businessfrance.fr     Sources : Business Standard, Forbes India

France among the top 5 most attractive countries

Audrey Lucbernet - 31-mai-2019 07:21:35
A .T. Kearney has just published its annual Foreign Direct Investment Confidence Index ranking, featuring France in the Top 5 of the most attractive major countries for the first time. It’s good news for the French economy, which has just gone up two places to join the Top 5 with the United States, Germany, Canada and the United Kingdom. It now ranks ahead of Japan, China and Australia as one of the countries likely to attract the most investment over the next three years. According to the institute, France’s new position in the ranking of attractive markets can be explained by "the improvement in the business climate" and "the recent reduction in the corporate tax rate". Among the other Top 5 countries, the United States maintains pole position thanks to " sustained economic expansion in recent years". Germany has gone up a place thanks to "strong competitiveness indicators and technological and digital infrastructure initiatives". Canada has benefited from " investment stimulus efforts", despite falling once place. As for the United Kingdom, it remains in fourth position, "despite the uncertainty surrounding Brexit". A.T. Kearney is an American economic and fiscal strategy consulting firm that publishes an annual "confidence index" based on data from an exclusive survey of 500 executives of large global companies. The 10 most attractive countries for foreign investment United States (no change compared to 2018) Germany (up 1 place) Canada (down 1 place) Great Britain (no change) France (up 2 places) Japan (no change) China (down 2 places) Italy (up 2 places) Australia (down 1 place) Singapore (up 2 places) You can see the full rankings on the A.T. Kearney website : https://www.atkearney.com/documents/236833/2632298/Facing+a+growing+paradox.pdf/c1c5e325-6107-a1c0-5f62-ad33e9bb3d2c?t=1556632933733

Interview Mr Kunal Kumar: India’s Smart Cities Mission, perspective for French companies

Aurélien Sostaponti - 31-mai-2019 07:10:45
BUSINESS FRANCE IN INDIA India’s Smart Cities Mission Perspectives for French companies on the occasion of Ambition India 2019 – Business France Replies by: Mr Kunal Kumar Joint Secretary (Mission Director – Smart Cities), Ministry of Housing and Urban Affairs (MoHUA), Government of India Q1. Could you please provide a brief introduction of India’s Smart Cities Mission (SC Mission)? India’s Smart Cities Mission was launched by the Prime Minister Shri Narendra Modi on June 25, 2015. The main objective is to promote cities that provide holistic and integrated infrastructure and a great quality of life to their citizens while maintaining a clean and sustainable environment. The focus is on sustainable and inclusive development and idea is to look at compact areas, create replicable models which will act like lighthouses to other aspiring cities. The process of selection of 100 smart cities was based on the principle of Cooperative and competitive federalism —all cities were given equal opportunity to enter through All India Challenge conducted in four rounds. The cities competed in a two-stage challenge process at the State and Central level. Key features of this process were Citizen Engagement and City Empowerment where cities were encouraged to decide their aspirations and execute them with support from Central and State Government. Integration, innovation and sustainability are guiding principles of the Smart Cities implemented through provision of integrated infrastructure and services, promoting circular economy and sustainable habitats, reimagining paradigms of governance and spurring innovation in delivery of solutions. Technology is one of the many instruments that smart cities are adopting to solve urban challenges. Inclusiveness is built into the mission to ensure that each and every citizen benefits from the urban transformation that is taking place in the smart cities. Each Smart City has formulated its own concept, vision, mission and plan (Smart City Proposal--SCP) which is appropriate to its local context, resources and level of ambition. Every SCP includes core-infrastructure elements such as assured water supply, electricity supply, sanitation and solid waste management, efficient mobility and public transport, affordable housing, safety and security, health and education. Smart Solutions in SCP include a bouquet of services that ensure that service delivery levels are achieved and measured, citizen services are seamlessly delivered, grievances are timely registered and resolved and safety is increased through video surveillance and monitoring. Q2. Please share some highlights of the progress of the Smart Cities Mission since its launch in 2016? Since the launch of the mission in June 2015, the work has progressed at a brisk pace. 100 cities were selected over a period spanning from January 2016 to June 2018. Post selection, each city has incorporated an SPV or Special Purpose Vehicle, with dedicated management and organisation structure to drive the project implementation and other initiatives of the mission. The SPV has appointed the project management consultant (PMC) that will support the SPV in planning, design and implementation of the projects. The projects can be broadly categorised into four themes : • Ease of Living - urban mobility, affordable housing, water and sanitation, safety and security, vibrant open spaces • Smart Governance – Integrated Command and Control Centres, Smart Card, Online Services, Intelligent Traffic Management System, Smart Poles • Connected Communities – Smart Education/ Classrooms, Skill Development, Public Art, Built Heritage • Urban Resilience – Solar and Wind Energy, Waste to Energy Plants, Green Buildings, Energy Management The 100 smart cities have proposed to execute 5 151 projects worth € 26.65 billion (INR 2 05 018 crores) in 5 years from their respective dates of selection. Financial innovation is built in the design of their capital investment plans. 64 % of the total projects i.e. 3492 projects, worth € 17.16 billion (INR 1 32 068 crore) have been tendered in SCM of which work orders have been issued in 41 % i.e. 2745 projects worth € 11.32 billion (INR 87 131 crore). 860 projects worth € 1.88 billion (INR 14 465 crore) have been completed. This is a significant increase in pace of implementation—289 % increase in tendered projects and 358 % in implementation/completed in last 16 months! Mission Cities have successfully expedited work on key projects which include: Integrated Command and Control Centers (ICCC) in 71 cities with operational in 16 cities; Smart streets projects in 69 cities; Smart Solar energy projects in 47 cities; Smart Water management projects in 67 cities; Smart Waste Water management projects in 56 cities. Projects are being executed through Public Private Partnerships in 61 cities. Q3. With regards to the Indo-French cooperation on Smart Cities, what views would you like to share? The relationship between India and France dates back to several decades and has been scaling heights in recent years. Indian Prime Minister paid a landmark visit to France from 09-12 April 2015. Former French President Hollande paid State visit to India during 24-26 January 2016 and was our chief guest for India’s Republic Day celebration. Our Prime Ministers have been meeting regularly on different platforms. The scale of cooperation between the two countries may be understood from the fact that almost 1000 French companies are present in India with a total turnover of more than € 17.8 billion (20 Billion USD). French companies have; the third largest FDI inflow, 25 R&D centres in India and employed around 300 000 people in India. On the other side, 120 Indian companies operating in France with an estimated investment stock of 1 billion Euros and employing around 7000 people. With regard to the Smart City Mission in India, France and India are collaborating on a very interesting project, City Investments to Innovate, Integrate and Sustain (CITIIS) Challenge. CITIIS was launched on 9th July 2018 by the Smart Cities Mission, Ministry of Housing and Urban Affairs in partnership with Agence Française de Développement (AFD), European Union (EU) and National Institute of Urban Affairs (NIUA). The program, the total size of which was € 100 Million, was open to all the 100 smart cities During the Challenge process for selection of projects under CITIIS, 36 Smart cities submitted a total of 67 proposals belonging to various themes. Of these, 13 projects from 13 cities and 12 States were selected for award by a distinguished jury comprising of nine experts from India and France. MoUs have also been signed between AFD (French Development Agency) and UT of Chandigarh, Puducherry and State Government of Maharashtra for development of Chandigarh, Puducherry and Nagpur. (Support for preparation of SCPs and implementation of projects) As part of urban transport improvement initiatives in India, financial assistance to various Metro projects were provided by AFD such as Bangalore Metro (€100 million - Phase 1, € 200 million -Phase 2), Kochi Metro (€ 180 million) and Nagpur metro. With regard to technical collaboration, technical support was provided to various Metro projects such as signaling system in Bangalore Metro, telecommunication and power & traction in Kochi Metro etc. The two countries have been working together in several fields ranging from civil nuclear cooperation, defense, and space to cultural, scientific and technological areas, including cybersecurity and digital cooperation. I would like to see this cooperation grow in the areas of urban development and combating climate change. Q4. In terms of projects, kindly elaborate the type of projects for which international companies can be useful to India’s Smart Cities Mission. I would like to see international industry actively participating in India’s urban sector via one or more of the following three tracks: 1) Providing technical support/capacity building support to cities/design and execution professionals already working in India; 2) Undertaking projects design and implementation of projects through competitive bidding/consortium building; and 3) Bringing in investment to Indian projects. Some areas we would like their participation in are: • Smart energy systems, net zero cities/precincts • Urban design of complete streets Reviving local economies • Increase on disaster resilient cities and communities • Urban Mobility and Transit Oriented Development (TOD) • Design of cities promoting circular economy; water and waste management Design of accessible urban spaces for the old and the people with disabilities Q5. Could you help us understand what are and will be the different types of preferred tendering processes to be used for projects under the Smart Cities Mission? We do not prescribe any particular tendering process to be used for projects under the Smart Cities Mission. The smart city SPV has the authority to carry out the tendering process for all projects. The tendering process is often guided by the procurement rules prescribed by the state governments. The state governments have their own procurement rules, procurement manual and in some instances standard documents to be followed by the state agencies. The city SPV undertakes a project development phase for individual projects that includes preparation of the feasibility study and/or Detailed Project Report (DPR). The tendering of the projects is done after the approval of the feasibility study/DPR. The tenders are published widely to maximise participation. Most of the tenders are evaluated both on cost and quality; lifecycle costs are taken into consideration for long gestation projects. Level playing field is made available so that the best companies can participate. Their participation has been one of the highlights of the Mission. Not only the best Indian companies, but renowned international companies have participated and are successfully executing projects in various cities. Q6. Can you elaborate what is the emphasis given, under the SC Mission to 3 sectors: mobility (urban transportation), water-waste management and connectedness of services for citizens? The Smart City Mission in India is envisioned as an urban rejuvenation initiative encompassing holistic development of urban areas including, but not limiting to, smart command and control centre, smart roads, smart solar, smart waste water and smart water projects. The three sectors with regard to mobility (urban transportation), water-waste management and connectedness of services for citizens are an integral part of the Mission and have been central to its objectives.Mobility (urban transportation): Smart transportation leverages smart infrastructure that includes multi-modal connected conveyance, automated traffic signals, tolls and fare collection, data integration—incorporating weather and traffic data, linking emergency services data as well as information from government agencies— drives the system. A central command centre ties together the smart transportation ecosystem, with real-time and updated data, handling passenger information, traffic signals, incident management and vehicle health monitoring. Optimized ‘on-demand services’ ensure that citizens can use all modes of transport according to their needs. Shared mobility solutions help provide first and last mile connectivity in conjunction with public transportation, they can act as feeder services and improve access to metro/rail or bus services. We are aiming to make public transportation robust and accessible through multi-modal shared mobility, so that citizens can choose it for all their commuting needs be it travel for work, travel for daily needs or for leisure. This can help move people away from private vehicles, which can contribute to lowering congestion and pollution. Cities under the Mission, are using technology to develop such seamless and connected transportation systems. Technology driven smart public transportation offers more attractive, reliable, convenient and complete choice of mode to commute. This reduces dependency on cars, arrests urban sprawl, and enables city authorities to develop compact cities with more focus on moving people rather moving cars. Lesser cars on roads will also reduce city’s air pollution levels. Moreover, with the continuous advancement in development of electric vehicles, smart transportation is destined to transform cities to zero emission mobility smart cities. In the Mission cities till date, total of 734 smart transportation projects worth € 3.64 billion (INR 28000 crore) are under implementation/completed. Electric mobility projects worth € 0.08 billion (INR 601 crore) are under implementation/completed in 21 cities. Public transport operations and traffic management are integral part of all ICCC enabled cities. Smart streets worth € 0.67 billion (INR 5146 crore) are under implementation/completed in 35 cities. I would like to mention that this is just the tip of the iceberg and many more such projects are being conceived across the country as I pen this down. Water and Waste Management: Under Smart Cities Mission various initiatives are undertaken for improving water systems in smart cities. These projects include installation of smart water meters, providing house service connections, upgradation of water supply systems, interlinking of water network data with SCADA system etc. The aim is to upgrade the existing water supply systems to 24X7 water supply systems. A total of 315 projects with estimated cost € 2.96 billion (INR 22 817 crore) are at various stages of implementation across the Mission. Of these, 35 projects worth € 0.16 billion (INR 1218 crore) have been completed, 126 projects worth € 1.32 billion (INR 10 119 crore) are under implementation and 45 projects worth € 0.57 billion (INR 4391 crore) are under tendering stage. Several initiatives with regard to waste management are also being implemented under this mission. These projects include waste to energy plants, waste to compost plants, waste water treatment plants, recycling and reduction of construction and demolition waste etc. A total of 323 waste management projects with estimated cost € 1.96 billion (INR 15 116 crore) are at various stages of implementation across the Mission. Of these, 90 projects worth € 0.19 billion (INR 1456 crore) have been completed, 177 projects worth € 1.32 billion (INR 10 182 crore) are under implementation and the rest 56 projects worth € 0.45 billion (INR 3478 crore) are under tendering stage. Regarding waste to energy plant, a total of 18 projects worth € 0.31 billion (INR 2401 crore) in 17 smart cities are at various stages of implementation. Of these, 4 projects worth € 0.026 billion (INR 202 crore) have been completed, 6 projects worth € 0.23 billion (INR 1790 crore) are under implementation and 2 projects worth € 0.043 billion (INR 338 crore) are under tendering stage. As mentioned in the case of mobility, there are many more projects than the ones which have found mention here, and hence the amount of work that remains to be taken up is clearly very large. Connectedness of Services for Citizens: Smart Cities leverage ICT based technologies and digitalisation to make governance citizen-friendly and cost effective, bring about accountability and transparency, provide services without having to go to municipal offices, form e-groups to listen to people and obtain feedback, and use online monitoring of programs and activities with the aid of online tools. In line with this, Integrated Command and Control Centres (ICCC) are being built by many smart cities to help cities in better urban planning and management. ICCCs function as single source of information and point of resolution of the civic functions of the city. They are bringing transparency through information sharing, a step towards becoming an inclusive city. Some of the ways an ICCC will impact citizens’ lives are: • Improved decision making for (local and other levels of) governments • Improved environmental sustainability and climate change outcomes. • Improved quality of services to citizens • Safety of citizens • Making cities more inclusive A total 71 out of 100 smart cities have started work on ICCC as one of its projects under the Mission. Till date, 16 Smart Cities have operationalised ICCCs worth € 0.38 billion (INR 2927 crore), work is in progress in another 44 cities worth € 0.54 billion (INR 4170 crore) and remaining 11 cities have their projects under tendering. Q7. Regarding the finances of the projects under the SC Mission, what is the extent of the available government funding and to what extent is the PPP and the private funding expected? The Mission encompasses 100 cities which have proposed to execute 5151 projects worth € 26.65 billion (INR 2 05 018 crores) in 5 years from their respective dates of selection. innovation is built in the design of their capital investment plans. The distribution of funding envisaged from different sources is as follows: • Central and State government: € 12.16 billion (INR 93 553 crore) (45%), • Convergence : € 5.46 billion (INR 42,028 crore) (21%), • Funds from PPP : € 5.33 billion (INR 41,022 crore) (21%), • Loans/Debt : € 1.27 billion (INR 9,843 crore) (4%), • Own sources : € 0.34 billion (INR 2,644 crore) (1%), Other sources: € 2.07 billion (INR 15 930 crore) (8%). Q8. Several foreign investors have remarked that most ULBs are not financially selfsustainable and tariff levels fixed by the ULBs for providing services often do not mirror the cost of supplying the same. Could you please share your opinion in this regard with us? I ascribe to the idea of ‘Think Global, Act Local’. While most development takes place at city level, they have to be mindful of the impact of their actions on the planet. To achieve that we must empower our cities to not only act but also think, analyse and take decisions. Having said that, cities need to become autonomous in terms of meeting their financial and other resource needs for infrastructure development, and day to day management. Lack of adequate infrastructure adversely affects a city’s ability to attract investment, and hence economic sustainability. Most of the ULBs lack in mobilization of resources and financial autonomy. The total revenues of all Urban Local Bodies (ULBs) in India merely amounts to about 1% of India’s GDP. The resource base of ULBs typically consists of their own sources, state revenue, government grant, loans from state governments, and market borrowings. They are sometimes not aware of the opportunities and avenues of generating revenues through taxes and non-tax charges. Even if they are aware, they do not have the skill to optimize tax collection. ULBs in India, therefore, have a minimal revenue base and largely dependent on Central and State grants, which constrains the ability of ULBs to invest adequately in capital expenditure like creating infrastructure and, thereby, improve quality of life in the city. Strengthening capacities of ULBs is necessary for effective resource mobilization. Their financial capacity is often restricted not only by low tax base but also low capacity for mobilization of existing resources, as result of which the ULBs are not able to harness property tax as per their potential due to undervaluation; non-availability of database of properties; low rates; low collection efficiency and lack of indexation of property values. We do realise financial self-sufficiency of the ULBs is an absolute must. Steps are being taken at all levels to empower ULBs to become self-sufficient. While the Constitution of India envisaged a two-tier system of federation, the 74th Constitutional Amendment Act, 1992 added third tier of government viz. urban local bodies. The amendment aimed at devolution of functions, finances and functionaries to ULBs. We, at the Ministry encourage cities to raise funds through municipal bonds, review of property tax system to improve efficiency and transparency in collection and mobilization of resources. Only in the last couple of years we have started to see a renewed vigour from Indian cities in raising money from the market through the instrument of Muni bonds. Several new initiatives for financial innovation are also being attempted and are showing encouraging signs of transformation. We are working on Capacity building of local government leaders such as Commissioners in : • financial management, preparation of financial statements for increased efficiency • improving the quality of service delivery which is the cornerstone for effective and sustainable urbanisation • exploring innovative/alternative sources of revenue generation at the municipalities level such as PPP, Municipal bonds, venture capital financing, crowd source financing, entertainment tax, mobile towers, user charges for solid waste, water, parking, value capture financing, etc. • enhancing citizen participation, e-governance tools like on-line procurement, tenders, and online expenditure reports. I am sure with all the efforts Government is making in this direction, local governments will soon be in a better position than they were a few years ago.

Smart Manufacturing – India rises to the challenges of the industrial revolution

Nidhi Somani - 29-avr.-2019 09:11:29
Factory of the future, Smart Factory, Industry 4.0, cyber-factory or connected factory: Regardless of what it is called, this transformation of industry represents a revolution in manufacturing processes based on new technologies and innovative concepts. Why is it called Industry 4.0? It is being called Industry 4.0 to represent the fourth revolution that has occurred in manufacturing. From the first industrial revolution (mechanization through water and steam power) to the mass production and assembly lines using electricity in the second, the fourth industrial revolution will take what was started in the third with the adoption of computers and automation and enhance it with smart and autonomous systems fueled by data and machine learning. What is Industry 4.0 for India ? According to IBEF, the Government of India has set an ambitious target of increasing the contribution of manufacturing output to 25 percent of Gross Domestic Product (GDP) by 2025, from 16 percent currently. IoT, being one of the most important aspects of Industry 4.0 for India, is expected to capture close to 20 percent share in global IoT market in the next five years. Furthermore, the IoT market in India is projected to grow at a CAGR of more than 28 percent during 2015-2020. Major Indian states are taking initiatives to adapt to Industry 4.0. Andhra Pradesh has taken an initiative to capitalise on the IoT potential in the country. The state government has approved the first-of-its-kind IoT policy with an aim to turn the state into an IoT hub by 2020 and tap close to 10 per cent market share in the country. India’s first smart factory, moving from automation to autonomy, where machines speak with each other, is being set up in Bengaluru. It is making progress at the Indian Institute of Science’s (IISc) Centre for Product Design and Manufacturing (CPDM) with an investment from The Boeing Company. Various Indian companies are increasing their focus and partnering with other companies for developing new IoT and M2M solutions, the Digital India initiative from the Government of India is expected to enhance the focus on IoT in tackling the domestic challenges. In line with India’s focus on automation in manufacturing, Business India is organising a seminar & roadshow called In2France Smart Factory 2019 in December 2019 . This event will focus on 5 industries : Automotive, Steel, Textile, Pharmaceutical & E-commerce. If you wish to collaborate with us for this event, please write to nidhi.somani@businessfrance.fr

“2018 Annual Report: Foreign investment in France” published Ambassador Alexandre Ziegler welcomes increasing Indian investment in France

sophie Canciani - 29-avr.-2019 08:46:11
New Delhi. April 12, 2019. The “2018 Annual Report: Foreign investment in France”, which was released at a press conference held earlier this month at the French Ministry for Economy and Finance, is a testimony to foreign investors’ renewed confidence in France as a business destination. The report was unveiled by Mr Bruno Le Maire, Minister for Economy and Finance, Mr Christophe Lecourtier, CEO of Business France, and Mr Pascal Cagni, Chairman of Business France and Ambassador for International Investment. A total of 1,323 investment decisions in France in 2018 – at an average of 25 decisions per week – created or maintained 30,302 jobs. Investments at new sites increased by 14% in 2018, with 741 new decisions, thus representing more than half (56%) of total investments. This increase in investment in new sites reflects France’s popularity and attractiveness. There were 500 investments that involved the expansion of existing operations , thereby generating 15,588 jobs in 2018. Welcoming the upsurge in Indian investments in France, Ambassador of France to India, H.E. Alexandre Ziegler said, “W ith 17 investment decisions, recorded in 2018, and more than 150 Indian companies already in France , employing more than 7,000 people, Indian investments reflect the improvement in France’s image as a business hub.” In 2018, Indian projects often involved decision-making centres (59% of projects; 53% of jobs) and production/manufacturing operations (18% of projects; 34% of jobs). Investments were mainly made in the software and IT services sector (24% of projects; 30% of jobs), and the machinery and mechanical equipment sector (12% of projects; 21% of jobs). Sophie Clavelier, Senior Trade and Investment Commissioner for India, VP of Business France for South Asia , added, “The diversity of France’s regions and cities continues to drive their attractiveness among Indian investors. Ile de France / Paris region (59% of projects; 50% of jobs) , Auvergne-Rhône-Alpes (18% of projects) , Grand Est (12% of projects), Hauts de France, Nouvelle Aquitaine and Occitanie were home to the main Indian investment decisions in 2018.” Business France, together with its French regional partners, helped secure major new Indian investments like Samvardhana Motherson Group, which invested €201 million for the acquisition of Reydel Automotive and Rahman Group. Thereafter, it acquired French safety footwear key player, Lemaître Sécurité SAS, in 2007, and is now reinvesting in the Grand Est region through the construction of its first 4.0 production facility. Trade between France and India continues to expand: French companies have today more than 550 Indian subsidiaries (with more local establishments that cover the entire territory) and currently employ approximately 360,000 people, for a cumulative turnover of € 12.1 billion To strengthen trade and investment links between French and Indian companies, Business France organizes a major annual Indo-French Business Forum , Ambition India , which includes sessions on business environment, project’s financing, HR, attractiveness and sectorial roundtables, networking lunch and B2B meetings. The 2019 edition will take place in Paris on 21 st May, at which more than 200 companies , experts, advisors and representatives of government bodies are expected. H.E. Alexandre Ziegler will participate in Ambition India and will also lead a delegation of Indian investors to France in Bordeaux, Paris and Lille the same week. *** Note to Editors Business France, the national agency supporting the international development of the French economy, is responsible for fostering export growth of French businesses, as well as promoting and facilitating international investment in France. It promotes France’s companies, business image and nationwide attractiveness as an investment destination, and also runs the VIE international internship programme. Business France has 1,500 personnel, in France and in 58 other countries throughout the world, who work with a network of partners. For further information, please visit: www.businessfrance.fr   Business Forum Ambition India: www.ambitionindia.fr
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Sophie Clavelier, Country Head   Welcome to the French Trade Commission Business France in India!     Our key mission is to promote trade relations between France and India. We assist French- based companies seeking potential partners and new markets in India, while helping Indian businesses to identify potential French suppliers, commercial and technical partners.   In India, our 4 offices are located in business hubs, New Delhi, Mumbai, Bengaluru and Chennai. We have a dedicated multicultural team of 38 experts in the following growing sectors: Agrofood Industry Industry and Cleantech Lifestyle and Healthcare Tech & Services Our Trade Commission also has a Press office in charge of helping French companies to communicate in India as well as a Market Access Department enabling them to better understand and adjust to the Indian regulatory and fiscal framework. In

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