Bengaluru, Apr 15 (PTI) The 'Indo-French Accelerator' was launched here on Thursday with a view to boosting up collaboration between India and France in the field of innovative technology.
The Indo-French Accelerator is a platform to give impetus to businesses, especially startups, to grow and get international recognition.
The event also coincided with the signing of a Memorandum of Understanding between Karnataka Innovative & Technological Society (KITS) and IFCCI (Indo-French Chamber of Commerce and Industry) to strengthen the ties on the tech front.
Speaking on the occasion, French Minister for Europe and Foreign Affairs Jean-Yves Le Drian emphasised upon government to government cooperation between India and France on technological and digital innovation.
'We need to build ties between companies and startups. This is the concrete way to achieve the political goal of jointly developing technologies that can be used for everyone's welfare,' Le Drian told the gathering.
Deputy Chief Minister Dr C N Ashwath Narayan, who holds the portfolio of Electronics and IT-BT, said, 'The Indo-France accelerator will be a great podium for the startups in India, particularly in Karnataka, to grow further in the global ecosystem.' The MoU will chart a suitable way forward for the mutual appraisal of the tech ecosystems of Karnataka and France, Narayan opined.
Narayan said the relationship between the two countries extends to the fields of culture, defense, economy, education, politics, and science.
'France has also emerged as a major source of FDI for India with more than 1,000 French establishments already present in India.' 'France is the 9th largest foreign investor in India with a cumulative investment of USD 6.59 billion from April 2000 to December 2018 and India-France bilateral trade stood at Euro 11.52 billion,' Narayan explained.
Narayan pointed out that Bengaluru has become a foremost destination for French companies from the IT and consultancy sector.
'Bengaluru hosts one of the main offices of Capgemini and is home to Gemalto, Technicolor, and 3DS among others. Atos (IT services provider), which employs about 20 per cent of its global workforce in India, also operates an office in Bengaluru.' According to an official press release, the MoU between the KITS and IFCCI is aimed at giving impetus to innovation and startup ecosystems in Karnataka and France.
The two sides also agreed for mutual invitation to events, workshops and seminars on a regular basis to exchange ideas and latest developments. PTI GMS BN BN