Indo French Chamber of Commerce and Industry

Please find the latest issue of La Lettre (July-August) on IFCCI website

Economy

• India’s exports fall the most in last 14 years in April 2009 by 33.2 percent – over the same month last year, while the domestic slowdown led to imports dropping by 36.6 percent in the same period. Exports dropped for the seventh month in a row this time to US$10.74 billion, in April 2009-10 from US$16.08 Billion a year ago.
• Sign of economic recovery – India’s core sector (cement, steel, coal, electricity) growth doubles to 4.3 percent in April 2009.
• Prime Minister Mr. Manmohan Singh reassures Indian businessmen that this year the growth of the Indian economy will not fall below 7 percent.
• India’s inflation dips to 3 decades low of -1.61%.


Business

• US car giant General Motors files for bankruptcy protection in New York but says that its Indian operations would not be affected.
• Japanese companies may take the route of Singapore Government funded infrastructure facilities to invest in India.
• France Telecom and Telstra of Australia and US AT&T in talks with Malaysia’s Maxis Comunications to buy a minority stake in Indian telecom operator Aircel.
• Airbus evaluating an Indian aircraft assembly line its second such unit outside Europe after China as the company seeks to reduce its production costs by at least 20-30 percent and serve the Indian market better.
• By 2010 India will have 2 companies manufacturing Helicopters , HAL and now Tata Advanced systems who have recently signed an agreement with Sikorsky, US based helicopter company to manufacture fuselagein a new Greenfield facility in Hyderabad.
• Britains Rolls Royce secured a bumper US$2.1 billion in new orders at the Paris Air Show . The company said that its engines will power planes belonging to Middleeast carriers Gulf Air and Qatar Airlines as well as Germany Condor and Royal China.
• Michelin and Cie , worlds second largest tyre manufacturer looking to invest upto Rs.7000 crores in India in a ten year period to make and market radical tyres and tubes in the country.
• French car maker Peugeot Citroen likely to set up its manufacturing facility for mid sized cars in Hyderabad or Chennai.The proposed capital expenditure could be in the range of Euro 350 million.
• US IT major Microsoft awards US $ 10 million BPO deal to India’s second largest IT company Infosys.
• German car manufacturer drawing up plans to expand its car product in India. To introduce the E Class to its Indian customers.
• German and UK based biotech companies to outsource more work, transfer technology from India in a bid to reduce costs.
• Indian handlooms and handicrafts brand, Cottage to soon start marketing its products in China.
• French veterinary company Vetoquinol is acquiring the veterinary business of pharma company Wockhardt for around Rs.175-200 crores.
• State Bank of India in talks with Indonesia based Bank Eksekutif to acquire a majority stake.
• Areva SA – France’s state controlled nuclear company plans to sell its transmission and distribution division – Areva T &D India.

Check all the pictures of IFCCI's latest events on our website.

Economy

• Moody’s Investor Service retains a stable outlook for India

• Inflation edges to a 7 week high of 0.48 percent for week ended May 2.

• India’s index of industrial production falls 2.3 percent in March 2008 its worst fall in last 16 years.

• Indian Exports and imports getting hit big time with exports declining by 33 percent in March 2009
to US$11.5 billion against US$17.2 billion for corresponding period last year.

• IMF: Indian economy to rebound near the end of the current calendar year.

• FDI worth US$11 billion flows into the country during October 2008 and March 2009.

• INR rises from 49.41/USD to 47.92 /USD, the sharpest rise in 23 years.

• The Government has cleared the way for the Navi Mumbai international airport by amending the coastal zone notification.

• Mr. Manmohan Singh sworn in as India’s Prime Minister. Mr. Pranab Mukherjee , Finance Minister, Mr. S M Krishna , External Affairs, Mr. Chidambaram, Home and Ms. Mamta Banerjee, Railways .

• Former Democratic Congressman Timothy J Roerner new US Ambassador to India.

Legal Mobility Issues between India and France

On the 9th and the 11th of June the IFCCI is organising a conference on Legal Mobility Issues Between India and France :

Mr. Jean-Luc Ferrant and the Indo-French Chamber of Commerce and Industry (IFCCI) in association with Helma Solutions India Pvt. Ltd. invite you :
On June 9th 2009 at the Hotel Four Seasons - Hemant Room, Mumbai the seminar will be starting at 19:00 hrs. followed by a cocktail dinner. On June 11th 2009, Chennai the breakfast meeting will start at 08:30 hrs.

Helma International will be represented by Mr. Ghislain De Rengervé , CEO and Mrs. Elisa Khetty, Country Manager India .

For more information and registration, please contact-
Dr Jayashree Jakhade at 022 2206 4619 or jayashree.jakhade (at) ifcci.org.in

According to the IMF’s most recent World Economic Outlook, published in October, the world economy is “entering a major downturn” in the face of “the most dangerous shock” to rich-country financial markets since the 1930s.

To understand the situation better and to facilitate discussions on the same, the Indo-French Chamber of Commerce and Industry (IFCCI) is organizing a half-day Seminar on 20th May 2009 at the Hotel Trident - Lotus Room, Mumbai between 1530 – 1730 hrs. Topic is "How to consolidate during a market recession".

As this topic is of relevance to all doing business, big and small and affected by the global bleak scenario, one would get an idea and a solution as to how to tackle issues not only relating to being competitive but also of survival. There will be a Panel Discussion in which eminent CEOs will air their views and experiences on how to cope with the difficult times.

Members : INR 800
Non Members : INR 1500

For more information and registration :
Dr Jayashree Jakhade at 022 2206 4619 or email jayashree.jakhade (at) ifcci.org.in

The North Region Council of the Indo French Chamber of Commerce and Industry organised a Gala Dinner on the 11th of May 2009 at Manre, the European cuisine restaurant situated in MGF Mall in Saket, New Delhi.

This event was organised to celebrate the robust and vibrant relations that exist between the two countries.

This initiative is part of the Chamber's continued exploration and experimentation in creating new platforms to nurture convivial exchange between the captains of the Indo-French business community.

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