Explore Business Standard
Don’t miss the latest developments in business and finance.
French energy giant TotalEnergies, which had in past years taken stakes in two Adani group listed firms, on Friday said it has not performed any re-evaluation of its holdings because of volatility in stock prices following allegations of fraud. In a statement, the French firm said its investment in Adani group entities were undertaken in full compliance with the Indian laws and its own internal governance processes. The company has a 37.4 per cent stake in Adani Total Gas Ltd and a 20 per cent holding in Adani Green Energy Ltd.
French companies would create more jobs in India in sectors such as manufacturing, information technology (IT), the industrial internet of things (IoT) and smart city projects, says France's largest employer federation, Mouvement des Entreprises de France (MEDEF). The body says it had discussion with both Indian and French companies, representatives from the Union government and business chambers Ficci and CII, to evaluate prospective sectors for growth. An MEDEF delegation had meetings in Delhi, Mumbai and Bengaluru. French president Emmanuel Macron makes an official visit to India later this year. About 450 French companies in manufacturing, defence, space, nuclear energy, smart cities and IT services employ 350,000 in India. "France and India have held strong trade ties for more than two decades. During this visit, we have held many discussions with the private sector and with our Indian counterparts in the government and industry, to source viable opportunities for both our ...