Prime Minister Narendra Modi on Tuesday addressed the 14th India-France CEO Forum in Paris, asserting that India remains a preferred global investment destination due to the "ecosystem of stable and predictable policy" developed under his leadership over the past decade.
Delivering his address to an assembly of top French business leaders, Modi declared that the present moment was the "right time to come to India" for investment.
"Everyone's progress is linked to India's progress. An example of this was seen in the aviation sector, when Indian companies placed large orders for aeroplanes. And, now, when we are going to open 120 new airports, you can imagine the future possibilities for yourselves," the Prime Minister said.
Economic Growth and Policy Reforms
Highlighting India’s economic trajectory, Modi said, "You are well aware of the changes that have taken place in India in the last decade. We have established an ecosystem of stable and predictable policy. Following the path of reform, perform and transform, today India is the fifth-largest economy in the world. The world's fastest-growing major economy is soon going to become the third-largest economy in the world."
Emphasising India's rising stature in defence manufacturing, he stated, "Our identity on the global stage is that today India is rapidly becoming a preferred global investment destination. We have launched the Semiconductor and Quantum Mission in India, and we are encouraging 'Make in India' and 'Make for the World' in defence."
Asserting that collaboration between France and India could yield global transformation, he said, "When France's finesse meets India's scale, it will lead to global transformation."
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CEO forum report and India-France strategic partnership
The Prime Minister welcomed the CEO Forum report and praised its guiding principle.
"I welcome the report of the CEO Forum. I can see that all of you are working with the mantra of innovate, collaborate and elevate. All of you are not just making boardroom connections, but also strengthening the India-France strategic partnership. This is my sixth meeting with him (French President Emmanuel Macron) in the last two years. This morning, we co-chaired the AI Action Summit," he said.
French President Emmanuel Macron hosted the event, extending a warm reception to Modi. A photograph captured the leaders exchanging pleasantries ahead of the forum.
Power targets
Modi also outlined India’s ambitions in clean energy, stating, "We have taken up Hydrogen mission also. By 2047, we have set a target of 100 GW of nuclear power. This will be opened to the private sector. We are opening the civil nuclear domain to private sectors."
The initiative will focus on Small and Advanced Modular Reactors (SMRs and AMRs), advanced nuclear reactors with power capacities up to 300 MW per unit, leveraging non-light water coolants to enhance efficiency.
Concluding his remarks, Modi expressed gratitude towards the French President for a successful dialogue.
"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," he stated in a post on X, writing in French.
Paris AI summit
Earlier in the day, Modi addressed the AI Summit in Paris, where he pointed out the importance of democratic and accessible technologies alongside bias-free data sets. The summit aimed to strengthen global cooperation in artificial intelligence.
"AI is writing the codes of humanity in this century," he asserted, advocating for technological governance that fosters innovation and transparency.
Macron welcomed Modi warmly at a dinner in Paris ahead of their co-chairing of the summit. The gathering also saw Modi engaging with US Vice President JD Vance, who attended the event.
Modi is currently on a two-day visit to France, reinforcing India’s diplomatic and economic engagements with the European nation.
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