PM Modi Urges French Businesses to Invest in India
Paris: Modi invited French firms to invest in India, saying it is the “right time” for them to do so.
Alongside French President Emmanuel Macron, he spoke at the 14th India France CEOs Forum in Paris and addressed the growing business and economic engagement between the two countries and how it has further strengthened the ongoing strategic partnership.
He also backed his claim with the example of France-Afsterdam Air France KLM group and their willingness to fly to India, noting that the favorable French relations and policies regarding India attested to France's willingness to invest.
"Everybody's progress is linked to India’s progress,” Modi said, emphasizing, “this is the right time to come to India.”
“In the aviation industry, when Indian firms bought a lot of airplanes, that was one illustration. And now that we are about to inaugurate 120 new airports, just imagine the potential opportunities that await you,” he remarked.
As he invited French businessmen to partake in a conversation about India's development, stated, “When the Caribbean architecture mingles with the India’s scale industry, when, wins over France’s speed and India’s precision, when France’s technology meets India’s intelligence… then we will not get only new businesses, but change the world.”
PM Modi added that he guessed with the new reforms mentioned in the Union Budget, India is becoming the most prominent center for diversification and de-risking.
He indicated, “Democratic values are what connects both India and France. But the roots of our friendship have largely been built on mutual trust, innovation and development of citizens. We are not partnered only between two countries.”
“‘We are working together to solve problems and issues that are common to all. On my last visit, we had delineated the 2047 roadmap, which sets out the direction for our relations. After that, we are trying to move towards integration of our cooperation in all areas.'”
He indicated the spheres where, as he has said, Indo-French cooperation is a reality already - aerospace, ports, defense, electronics, dairy and consumer goods, chemicals and products.
As you know, the past decade has seen India undergo significant changes. Today, we have a stable polity and a 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 stated.
“India is poised to become the third largest economy in the world. India’s young skilled workforce and the spirit of innovation set our country as a beacon in the international arena. Today, India is fast becoming a preferred global investment destination,” he remarked.
Modi noted the importance of the forum and said innovation and economic cooperation goes hand in hand just like France and India. “It's heartening to watch business heads from both nations partner together and build new frontiers in critical sectors. This ensures economic growth, investment, and a better future for the next generations.”
As noted by the Ministry of External Affairs, the MEA said that the forum gathered together CEOs from a wide range of companies that participated from both sides, including but not limited to defense, aerospace, information and emerging technologies, infrastructure, advanced manufacturing, artificial intelligence, life sciences, wellness and lifestyle, and food and hospitality.
S Jaishankar, the Minister of External Affairs, spoke at the forum with his French counterparts, Jean-Noel Barrot, Minister for Europe and Foriegn Affairs and Eric Lombard the Minister of the Economy, Finance and Digital Sovereignty.