India-France Strengthen Strategic Economic Ties at 14th CEOs Forum in Paris

Highlighting India’s appeal as a preferred global investment destination, the Prime Minister pointed to the country’s stable political landscape and predictable policy framework as key enablers.

Prime Minister Shri Narendra Modi and President of France, H.E. Mr. Emmanuel Macron, jointly addressed the 14th India-France CEOs Forum today, marking a significant step in bolstering bilateral economic and strategic ties. The high-profile forum convened leading CEOs from diverse industries including defence, aerospace, critical and emerging technologies, infrastructure, advanced manufacturing, artificial intelligence, life sciences, wellness and lifestyle, and food and hospitality sectors.

In his keynote address, Prime Minister Modi emphasized the dynamic growth of India-France business collaborations, underscoring the critical role this partnership plays in strengthening the broader strategic alliance between the two nations. Highlighting India’s appeal as a preferred global investment destination, the Prime Minister pointed to the country’s stable political landscape and predictable policy framework as key enablers.

Key Economic Reforms and Investment Opportunities

Prime Minister Modi elaborated on recent economic reforms announced in India's latest budget, aimed at enhancing the country’s investment climate. Notable measures include:

• Opening the insurance sector to 100% Foreign Direct Investment (FDI).
• Enabling private sector participation in the civil nuclear energy sector, with a focus on Small Modular Reactors (SMRs) and Advanced Modular Reactors (AMRs).
• Rationalizing the customs rate structure to streamline trade processes.
• Simplifying the income tax code to improve the Ease of Living for citizens and businesses.

He also highlighted the government’s ongoing commitment to regulatory reforms, noting the establishment of a high-level committee dedicated to fostering trust-based economic governance. Over 40,000 regulatory compliances have been rationalized in recent years to reduce bureaucratic hurdles and enhance business efficiency.

Inviting French Investment in Key Sectors

Prime Minister Modi extended a warm invitation to French companies to explore the vast opportunities within the "India growth story." Key sectors identified for collaboration include:

• Defence and aerospace industries
• Renewable energy and sustainable development
• Highways and civil aviation infrastructure
• Space exploration and satellite technology
• Healthcare and life sciences
• Fintech innovations

Furthermore, he highlighted India's recent launches in Artificial Intelligence, Semiconductors, Quantum Computing, Critical Minerals, and Hydrogen missions. The Prime Minister called on French enterprises to partner with India in these cutting-edge fields, fostering mutual growth and prosperity.

Commitment to Innovation and Technology-Driven Partnerships

Prime Minister Modi reaffirmed the shared commitment of India and France to drive innovation, investment, and technology partnerships. He stressed the importance of active engagement in these sectors to meet global challenges and harness new economic opportunities.

Additional Addresses by Key Ministers

The forum also featured addresses by India's External Affairs Minister Dr. S. Jaishankar and prominent French officials, including the Minister for Europe and Foreign Affairs, H.E. Jean-Noël Barrot, and the Minister of the Economy, Finance, and Industrial and Digital Sovereignty, H.E. Eric Lombard. Their remarks further emphasized the importance of India-France economic ties and the strategic role of private sector collaboration in advancing bilateral relations.

For the full remarks of Prime Minister Modi, [Insert Link].

[End of Document]