Saturday, May 18th, 2024

Choose France Summit: TCS to set up AI centre, invest in Motherson Aerospace

Two major commitments were made by Indian companies at the Choice France Summit held in Paris this week.

Motherson, which is into manufacturing, has invested in acquiring a French company and making the country the central hub of its global aerospace strategy, the French Embassy in India posted on its IT services major TCS promised to create a global artificial intelligence center in Paris.

Around Rs 1.35 lakh crore of new investments were announced at this year’s Choice France Summit, which also includes two Indian projects.

At the summit, President Emmanuel Macron met Indian CEOs during a special India-specific session.

The French President welcomed the growing Indian investments in France and highlighted that there is much more that the two partner countries can do together.

The annual Choice France summit, hosted by President Macron, is France’s premier business event.

In this year’s edition, India was the first country of honour, with a dedicated roundtable and participation from several prominent Indian CEOs.

Indian CEOs participating in this year’s summit include Bharti Enterprises Chairman Sunil Bharti Mittal, Tata Sons Chairman N Chandrasekaran, Hero Cycles Chairman and MD Pankaj Munjal, Jubilant Bhartia Group Founder and Co-Chairman Hari Bhartia, Chairman Sameer Mehta is included. Torrent Pharma, Vineeta D Gupta, CEO, Lupine Pharma and Laksh Vaman Sehgal, Vice Chairman, Motherson.

France considers itself the most attractive European economy for foreign investment. Inflation is falling, reforms are ongoing, and low tax rates have made France an attractive investment destination for foreign investors.

Many Indian companies like L&T Technology, TCS and Tata Tech have already invested in France.

Since 2018, the Choice France Summit, launched on the initiative of the President of the Republic, has become the flagship event to promote the economic attractiveness of France and encourage international investment across the country.

Each year, the summit, hosted by the President and members of the government, brings together hundreds of leaders of the largest multinational corporations at the Ch√Ęteau de Versailles.

Last year, the Choice France summit attracted investments of more than 13 billion euros for 28 projects.

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