French regions keen on investing in South

The General Confederation of Small and Medium Sized Companies (CGPME) from Lyon and the Rhone Alphes region of France will be opening a branch office in Chennai to promote trade and business co-operation between Lyon and the Rhone Alphes regions and South India.

Rhone Alphes region is the second largest economic zone in France and is ranked 8th in Europe in terms of economic weight. Its GDP was 52 billion euros in 2005 and is headquarters of several pharma majors.

CGPME, an employers confederation with a membership of 1.5 million heads of small and medium sized French companies, has found a partner in the city to open the office, which is expected to be operational by September.

A French delegation lead by Francois Turcas, president of CGPME (Rhone Alphes), is on a visit to Chennai during May 22-26, to prepare the groundwork to establish a long-term relationship between Lyon and the Rhone Alphes region and southern India.

Addressing a press conference, Turcas said there were lot of similarities between France and the southern part of India, which was on a high growth path. The objective of the mission was to promote trade and partnership between the French region and south India and to attract investments from the business community here to Lyon & the Rhone Alphes region. "We can bring a lot of new businesses to India and vice-versa," he added.

Turcas was accompanied by Descombe, managing director of Descombe, a wine manufacturer for over four generations, Julie Baron, consultant for medical supplies and Pascal Beauchamp, chairman, Beauchamp, engaged in plastics and fabrication, among others.

The delegation will be meeting business communities in Bangalore and Chennai. Indo-French Chamber of Commerce and Industry and Sri Lanka-based Investor Services Asia Pvt Ltd, engaged in promoting trade between Frances, South India and Sri Lanka, will be organising the business meetings.