On May 9 in New Delhi, Commerce and Industry Minister Piyush Goyal held important talks with Vincent Astoux, International Relations Director of LVMH Group. The main focus of the discussion was on strengthening manufacturing capacity in India, increasing exports, investing in local talent and global promotion of Indian culture.
Both sides stressed on strengthening a balanced trade partnership that meets mutual interests. Minister Goyal shared the post on Twitter and said that the meeting focused on strengthening exports by promoting manufacturing in India, supporting local talent, taking Indian culture to the global stage and beneficial trade partnerships.
Just before this, on Friday, Goyal met senior officials of French beauty company L’Oreal. The delegation led by Vismay Sharma, Chairman, South Asia Pacific, Middle East and North Africa, held in-depth discussions on opportunities to increase sourcing, production and exports from India.
L’Oreal has recently launched the world’s largest Beauty Tech Global Capacity Center in Hyderabad. Announced in January with an investment of $383.4 million, the hub will open up new opportunities in the beauty and personal care sector.
These meetings are proving to be a milestone in the direction of establishing India as a global manufacturing hub. Foreign investment will give impetus to employment, technology and economic development.
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