Hyderabad, October 30: In an effort to generate more employment i n Andhra Pradesh, the French Government is planning to set up several industries in the State with the assistance of AP Government, said Anne Marie Idrac, Minister for foreign Trade,France.
Indian company, Avesthagen limited on Thursday announced the formation of a joint venture company ‘Atash Seeds Private Limited’ with Limagrain, a French international cooperation group.
Speaking on the occasion, Anne Marie Idrac said that the French Government is willing to start more business activities in India, especially in Andhra Pradesh given the encouragement the State Government is extending to Francebased private companies.
French companies have started setting up at least 30 activities under Special Economic Zones (SEZ) in the twin cities and in other parts of the State.
Dr. Viloo Morawala Patell, Chairman and Managing Director (CMD), Avesthagen said that Atash Seeds would be the first Indian biotech company to work towards jointly contributing to the Indian and French agricultural sector.
This collaboration would strengthen Indo-French ties by bringing together cutting-edge Indian biotechnology IP with Limagrain global expertise that would contribute significantly to the Indian and International agricultural market in near future.
According to the terms of the joint venture agreement, Limagrain has also entered into an exclusive worldwide licence arrangement for developing and marketing genetically modified seeds.
Kanna Lakshminarayana, Minister for Major Industries said that the economic business relationship has strengthened between Andhra Pradesh and France. Earlier, a 12-member French delegation led by Anne-Marie Idrac called on Chief Minister K Rosaiah at his office in the State Secretariat.
During their discussions, Rosaiah invited the French companies for setting up of food processing and agrobased industries in the State.
He also requested the French Minister to take up the issue of setting up of PSA Peugeot Citroen Company, an automotive project at Hyderabad.
The French Minister thanked the Chief Minister for offering allotment of office space for French Cultural Centre at the corporate building of Andhra Pradesh Industrial Infrastructure Corporation at Masab Tank.
–Agencies