Prime Minister Narendra Modi has invited French companies to look at the immense opportunities offered by the India growth story and said it was the “right time” to invest in the country.
In his address at the 14th India-France CEOs Forum in Paris, where he was joined by French President Emmanuel Macron, Modi noted the expanding bilateral business and economic collaboration and the impetus it has provided to the strategic partnership between the two countries.
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He highlighted India’s attractiveness as a favoured global investment destination, based on a stable polity and predictable policy ecosystem.
“Let me tell you all, this is the right time to come to India. Everyone’s progress is linked to India’s progress,” said Mr. Modi.
“An example of this was seen in the aviation sector, when Indian companies placed large orders for airplanes. And, now, when we are going to open 120 new airports, you can imagine the future possibilities for yourselves,” he said.
Inviting French business to join India’s development journey, he said, “When France’s finesse and India’s scale meet; when India’s pace and France’s precision join; when France’s technology and India’s talent unite… then, not just business landscape, but global transformation will happen.”
PM Modi noted that India is becoming the biggest centre of diversification and de-risking, backed by a new generation of reforms outlined in the Union Budget earlier this month.
He noted, “India and France are not just linked by democratic values. The foundation of our friendship is based on the spirit of deep trust, innovation, and public welfare. Our partnership is not limited to just two countries.
“We are cooperating together to address global problems and challenges. During my last visit, we had outlined the 2047 roadmap for our partnership. Following that, we are pursuing cooperation in a comprehensive manner in every field.” He pointed to areas such as aerospace, ports, defence, electronics, dairy, chemicals and consumer goods where Indo-French cooperation is already in action.
“You are well aware of the changes that have taken place in India in the last decade. We have established a stable polity, and predictable policy ecosystem. Following the path of reform, perform, and transform, today India is the fifth largest economy in the world. It is the fastest growing major economy in the world,” he said.
“It will soon become the world’s third largest economy. India’s skilled young talent factory and innovation spirit are our identity on the global stage. Today, India is fast becoming a preferred global investment destination,” he added.
In a post on X, Modi said the India-France CEO Forum plays a key role in strengthening economic ties and fostering innovation. “It is gladdening to see business leaders from both nations collaborate and create new opportunities across key sectors. This drives growth, investment and ensures a better future for the coming generations.”
According to the Ministry of External Affairs (MEA), 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.
External Affairs Minister S Jaishankar also addressed the forum alongside French Minister for Europe and Foreign Affairs Jean-Noël Barrot, and the Minister of the Economy, Finance, and Industrial and Digital Sovereignty of France, Eric Lombard,
Published – February 12, 2025 06:53 am IST