Synopsis
During the 14th India-France CEO Forum, Prime Minister Modi underscored India's position as a top global investment hub, emphasizing stable policies and growth opportunities. He invited businesses to invest, showcasing India's advancements in various sectors and global partnerships aimed at sustainable development.Key Takeaways
- India is a preferred global investment destination.
- PM Modi emphasized stable and predictable policies.
- Opportunities in sectors like defense and technology.
- 1.4 billion Indians are committed to #ViksitBharat 2047.
- India aims for 100 GW of nuclear power by 2047.
Paris, Feb 12 (NationPress) During the 14th India-France CEO Forum held in Paris on Tuesday, Prime Minister Narendra Modi emphasized that India is an ideal global investment destination, owing to the stable and predictable policy ecosystem established under his guidance over the past ten years. He remarked that it is the perfect time to invest in India.
"This is the perfect time to invest in India. The progress of everyone is interconnected with India's growth. A testament to this is the aviation industry, where Indian firms have made substantial aircraft purchases. Now, with the opening of 120 new airports, you can envision the future possibilities for yourselves," PM Modi stated during his speech.
"You are well aware of the transformations that have occurred in India over the last decade. We have created an ecosystem of stable and predictable policy. Adopting the mantra of reform, perform, and transform, India is now the fifth-largest economy globally and is on track to become the third-largest economy soon," the Prime Minister added.
Highlighting India's defense manufacturing prowess, PM Modi remarked, "Our global identity today positions India as a rapidly emerging preferred investment destination. We have initiated the Semiconductor and Quantum Mission in India and are promoting the 'Make in India' and 'Make for the World' initiatives in defense."
He noted, "In the realm of space technology, we are achieving new milestones. This sector has been opened for Foreign Direct Investment (FDI). We aspire to transform India into a global bio-tech powerhouse."
PM Modi extended an invitation to businesses to invest in India at the India-France CEOs Forum, stating, "The 1.4 billion citizens of India are committed to realizing #ViksitBharat by 2047, across various sectors including defense, advanced technologies, fintech, pharmaceuticals, textiles, agriculture, aviation, healthcare, highways, space, and sustainable development, among others."
He also mentioned that the collaboration between France's expertise and India's scale could result in global transformation. PM Modi praised the CEO Forum's report and commended the principle of "innovate, collaborate, and elevate" that is reinforcing the India-France partnership.
"I commend the report from the CEO Forum. It is evident that you are all working with the principle of innovate, collaborate, and elevate. You are not only establishing boardroom connections but are also fortifying the India-France strategic alliance. This marks my sixth meeting with French President Emmanuel Macron in the past two years. This morning, we co-chaired the AI Action Summit," he stated.
During the forum, PM Modi also discussed India's Hydrogen mission, revealing that the nation aims to achieve 100 GW of nuclear energy by 2047.
"We have initiated the Hydrogen mission as well. By 2047, we are targeting 100 GW of nuclear power, which will be opened to private participation. We are allowing the civil nuclear domain to involve private sectors," PM Modi stated.
Small Modular Reactors (SMRs) are advanced nuclear reactors with a power capacity of 300 MW per unit, while Advanced Modular Reactors (AMRs) are a type of SMR using non-light water coolants.
PM Modi expressed gratitude to President Macron for a successful CEO Forum.
"The India-France CEO Forum is crucial in enhancing economic connections and fostering innovation. It is heartening to witness business leaders from both nations collaborating to generate new opportunities across key sectors. This drives growth and investment, ensuring a better future for upcoming generations," PM Modi also mentioned in a post on X.
Earlier on Tuesday, PM Modi advocated for democratic and accessible technologies and unbiased data sets while addressing the AI Summit in Paris. The summit aims to strengthen international cooperation in the Artificial Intelligence (AI) field.
The Prime Minister affirmed that AI is shaping the codes of humanity in this century and called for technological governance that promotes innovation and transparency.
He underscored the necessity for coordinated global efforts to establish governance in AI and advocated for increased transparency and accessibility in the sector.
PM Modi received a warm reception from Macron, who welcomed him with a hug at a dinner in Paris before their joint chairing of the AI Summit.
At the dinner, PM Modi also met with US Vice President JD Vance, who attended the AI Summit as well.
Prime Minister Modi is on a two-day visit to France.
