Economy

French, German investors in Maharashtra express concerns over extended lockdown

Prashasti Awasthi Mumbai | Updated on June 03, 2020 Published on June 03, 2020

The Indo-French Chamber of Commerce and Industry (IFCCI) and the Indo-German Chamber of Commerce (IGCC) presented a white paper “Challenges faced by French and German companies in Maharashtra caused by Nationwide Covid-19 Lockdown,” as per the joint official release of IFCCI and IGCC.

The paper was presented to Subhash Desai, Minister for Industries and Mining of Maharashtra, during a live session on June 2.

The joint release further stated that the white paper was developed as a joint initiative of IFCCI and IGCC and consulting firm Roedl & Partner with the support of the French and German Consulates in Mumbai.

The paper mentioned that in the light of the Covid-19 pandemic, the Centre has extended the nationwide lockdown for the fourth time. The extended lockdown has caused numerous business and economic disruptions which create challenges for companies to restart their operations.

The white paper contains the financial, commercial, and labour related conditions and challenges faced by French and German companies operating in Maharashtra to explore specific solutions to help smoothen business operations in the state. It highlights key aspects that policymakers should consider in their policy-making deliberations.

Sonia Barbry, Consul General of France in Mumbai, and Dr Juergen Morhard, Consul General of the Federal Republic of Germany in Mumbai, who supported the joint initiatives of both Chambers are looking forward to facilitating the follow-up of the Paper’s recommendation with the Maharashtra government.

Speaking in the virtual convention, Dr Juergen Morhard expressed said: “Maharashtra has traditionally been one of the top investment destinations for European, and in particular, for French and German companies in India. This webinar meeting and the suggestions in the form of a White Paper are just the continuation of a long and well established regular dialogue with Honourable Minister Desai himself, as well as with the Government of Maharashtra in association with the relevant Consulates, Chambers and our industries.”

Sumeet Anand, President of IFCCI, similarly reiterated: "Maharashtra is the home base of our Indo-French Chamber members in India with leading investments in business and CSR activities. We at IFCCI are very glad to have the support of the Govt. of Maharashtra in these delicate times."

The IGCC and IFCCI said that they are committed to support its member companies and to promote bilateral trade between the two countries and India to achieve sustainable economic development.

Published on June 03, 2020
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