Hyderabad: An investment of Rs 6,300 crore has poured into the Hyderabad airport to increase its capacity to 34 million, said Antoine Crombez, deputy CEO, GMR Airports Ltd here on Friday. Crombez gave the numbers during a conclave held between a French delegation and the Telangana government, which was held to boost trade between the two sides.
On Friday, a French delegation which was in Hyderabad to strengthen investment opportunities in Telangana, commenced its day with site visits to French companies that are successfully operating in the state like Safran Aircraft Engines, Mane India and Sanofi Shantha Biotech. They were here to participate in the 4th edition of the Indo French Investment Conclave that was organised by the Indo-French Chamber of Commerce & Industry (IFCCI) organized.
Addressing the 100 plus delegate at the conclave, state IT and industries minister K. T. Rama Rao said, “Since the formation of the State, the Telangana Government has been introducing innovative policies to attract global firms and investments.” He added that the Telangana Government has been giving approvals for various investment proposals within fifteen days.
The minister also mentioned that Telangana has been the favorite destination for IT, aerospace, life sciences, and pharma companies. “If any company wants to invest in India and can mention what other states are offering, we will meet their offer or beat their offer,” he said.
Apart from KTR, the conclave was also attended by Emmanuel Lenain, ambassador of France to India, and 100 plus company bigwigs of existing and potential French investors. The conclave saw a large delegation of French company CEOs, CXOs and diplomats who attended the event in Hyderabad. It showcased the advantages of Telangana to the Indo-French business community, said a press release from IFCCI.
The conclave included several panel discussions focusing on key industries and the official session was attended by Emmaunel Lenain, KTR, Jayesh Ranjan, principal secretary (IT) and Sumeet Anand, IFCCI president. Friday’s event was fourth edition of the Indo-French Investment conclave and previous editions were held in Nagpur, Goa and Tamil Nadu.
Speaking on the occasion, the Lenain said: “France and French companies are fully committed to increasing their presence in Telangana and seizing the many opportunities of this thriving, innovation-oriented state. Many French groups have already invested in Telangana, particularly in biotech, IT and aeronautics.”
In February 2020, GMR Infrastructure Limited (GIL) had announced a strategic partnership with Groupe ADP for its Airports Business.Groupe ADP’s acquisition of a 49% stake in GMR Airports set a robust industrial partnership.
France is the ninth largest foreign investor with more than 1,000 French establishments already present in India employing more than 350,000 persons in the country. Telangana, being a significant contributor to the Indian economy, recorded a GSDP of Rs 9.78 lakh crore in 2020-21, denoting a growth rate of 1.35% in spite of the COVID-19 pandemic.