Prime Minister Narendra Modi has called on French businesses to seize the abundant opportunities in India, particularly in areas like technology, innovation, and sustainable development. Speaking at the 14th India-France CEOs Forum in Paris, PM Modi invited French companies to strengthen their partnership with India, highlighting the country’s recent economic reforms.
The Prime Minister emphasized the government’s ongoing efforts to improve India’s business environment, citing the latest budget reforms designed to attract investment and simplify the process of doing business in the country. He particularly pointed out the opening of the insurance sector to 100% Foreign Direct Investment (FDI), which, he said, would help India transition to cleaner and more efficient energy solutions. Additionally, PM Modi noted that the civil nuclear energy sector is now open to private participation with a focus on Small Modular Reactors (SMRs) and Advanced Modular Reactors (AMRs).
In his address, PM Modi also highlighted several measures to streamline economic policies, including the rationalization of the customs rate structure to facilitate trade and the introduction of a simplified income tax code to improve the quality of life for citizens. He reassured the business community that the government remains committed to regulatory reforms, having established a high-level committee focused on promoting trust-based economic governance.
Further emphasizing India’s pro-business approach, the Prime Minister mentioned that over 40,000 compliance requirements had been simplified in recent years, making India an increasingly attractive destination for businesses. He also announced the launch of “India Trade Net,” a new digital infrastructure aimed at facilitating international trade.
PM Modi urged the CEOs Forum to take note of India’s initiatives, such as the National Manufacturing Mission, and encouraged French enterprises to explore the country’s vast opportunities in the fields of technology, innovation, and sustainable development. He stressed that this is the right time to invest in India and said, “Everyone’s progress is linked to India’s progress.” He also gave an example from the aviation sector, where Indian companies recently placed large orders for airplanes, and with plans to open 120 new airports, the future possibilities are immense.
The Prime Minister concluded by welcoming French businesses to join India’s growth story, adding, “I invite you all to be part of India’s development journey.”
PM Modi was accompanied by French President Emmanuel Macron at the forum. Recalling their strong ties, the Prime Minister noted that this was their sixth meeting in the past two years, and that President Macron had been the Chief Guest at India’s Republic Day celebrations in 2024.
Currently on a visit to France from February 10-12, PM Modi also co-chaired the AI Action Summit with President Macron on Tuesday. After his visit to France, he is scheduled to travel to the United States from February 12-13 to meet with US President Donald Trump and other senior US officials.