Étienne Rolland-Piègue, consul general of France in Puducherry and Chennai,
Approximately 150 French companies operate in the state, including listed MNCs, family-owned businesses and entrepreneurs. The first major sector is automotive manufacturing and components, with companies such as Renault, Stellantis (Citroën), Valeo and Michelin. With Saint-Gobain, the construction materials industry is represented. BNP Paribas, the largest bank in Europe, is also present in Chennai. Textiles is another sector of interest for French companies in TN. The unique embroidery talent is why luxury fashion house Chanel has a local presence through the company Vastrakala. Several TN-based IT companies operate in France. An example when it comes to innovation is the Chennai-based company Zifo, which collaborates with leading French scientific firms in the health sector, for instance, on their R&D and operations.
The FTA will have the potential to change the landscape of wine exports to India, with tariff reductions from the current 150% to as low as 20%. This reduction will be applicable only to premium wines, while tariffs on mid-range wines will be reduced to 30%. As per the general rule for the FTA, reduction in tariffs will be gradual, over seven years. The diversity of European wines, including French wines, available in India is expected to increase progressively, depending on consumer response. Commercialisation of alcoholic beverages varies widely between states, from registration to fees and taxes, and distribution. Wine exporters are aware of this market fragmentation. As India might represent a growing market for them through the FTA, they are expected to keep adapting their strategy. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai