At a meeting with French business honchos in Paris, Prime Minister Narendra Modi, on Wednesday, highlighted India’s attractiveness as a favoured global investment destination, based on its stable polity and predictable policy ecosystem.
At the 14th India-France CEOs Forum which he addressed jointly with French President Emmanuel Macron, the PM invited French companies to look at the immense opportunities offered by the India growth story, in the defence, energy, highway, civil aviation, space, healthcare, fintech, and sustainable development sectors.
The forum brought together CEOs from a diverse group of companies from both sides, focusing on sectors such as defence, aerospace, critical and emerging technologies, infrastructure, advanced manufacturing, artificial intelligence, life-sciences, wellness and lifestyle, and food and hospitality.
Mr Modi noted the expanding India-France business and economic collaboration and the impetus it has provided to the strategic partnership between the two countries.
Talking of the reforms announced in the recent budget, he noted that the insurance sector was now open to 100% FDI and civil nuclear energy sector for private participation with focus on SMR and AMR technologies; customs rate structure was rationalised; and simplified income tax code was being brought in to enhance Ease of Living.
Referring to the government’s commitment to continue ushering in reforms, he noted that a high-level committee for regulatory reforms had been constituted to establish trust-based economic governance. In the same spirit, more than 40,000 compliances had been rationalised in the last few years.
Underlining global appreciation and interest in India’s skills, talent and innovation and in its newly launched AI, Semiconductor, Quantum, Critical Minerals and Hydrogen missions, the PM called upon French enterprises to partner India for mutual growth and prosperity. He outlined the importance of active engagement in these sectors, reaffirming the commitment of both nations to fostering innovation, investment, and technology-driven partnerships.