PM Modi highlights India's investment potential at India-France CEOs Forum

PM Modi encourages French businesses to explore opportunities in India at the 14th India-France CEOs Forum

Prime Minister Narendra Modi has urged French enterprises to leverage the vast opportunities available in India and collaborate in areas such as technology, innovation, and sustainable development.

Narendra Modi, India's prime minister, speaks at Station F during the AI Action Summit in Paris, France, on Tuesday, Feb. 11, 2025.(Bloomberg/Nathan Laine)

In his address to the 14th India-France CEOs Forum in Paris, PM Modi invited French businesses to deepen their partnership with India.

He highlighted the series of economic reforms introduced in the recent budget, emphasizing their potential to boost investments and enhance the ease of doing business.

The Prime Minister underscored India's progressive approach toward attracting foreign investment, stating that the government had opened the insurance sector to 100 per cent Foreign Direct Investment (FDI). These steps, he said, would help India move towards cleaner and more efficient energy solutions.

"The insurance sector was now open for 100 per cent FDI and civil nuclear energy sector for private participation with focus on SMR and AMR technologies; customs rate structure was rationalized; and simplified income tax code was being brought in to enhance Ease of Living" PM Modi said.

The Prime Minister Modi further elaborated on the government's efforts to simplify and streamline economic policies.

He also mentioned that the customs rate structure had been rationalized to facilitate trade and that a new, simplified income tax code was being introduced to enhance the ease of living for citizens.

He reaffirmed the government's commitment to continuing reforms, noting the establishment of a high-level committee for regulatory reforms aimed at promoting trust-based economic governance.

Highlighting the government's pro-business stance, PM Modi pointed out that over 40,000 compliances had been rationalized in recent years to make India a more business-friendly destination.

"To facilitate international trade, "India Trade Net" is being introduced with the help of digital public infrastructure. We are bringing a new simplified income tax code towards Ease of Living," he said

The Prime Minister urged the forum to study the initiatives taken by India, including the set up of National Manufacturing Mission.

He urged French enterprises to leverage the vast opportunities available in India and collaborate in areas such as technology, innovation, and sustainable development.

"Let me tell you all, this is the right time to come to India," the Prime Minister said in his address.

"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 airplanes. And, now, when we are going to open 120 new airports, you can imagine the future possibilities for yourselves," the Prime Minister said.

"I welcome you all to join India's development journey," the Prime Minister said.

Prime Minister Modi was joined by the French President Emmanual Macron at the CEO Forum. "This is our sixth meeting in the last two years. Last year, President Macron was the Chief Guest at our Republic Day," PM Modi said.

PM Modi is currently on a visit to France from February 10-12. He co-chaired the AI Action Summit with French President Emmanuel Macron in Paris on Tuesday.

Following this, PM Modi will visit United States on February 12-13 and hold a meeting with US President Donald Trump and other senior leaders of the US administration.