Synopsis
During the 14th India-France CEO Forum in Paris, PM Modi presented India as a prime investment opportunity, crediting the stable policy environment established in the last decade. He urged global businesses to invest, citing India's growth and potential across various sectors.Key Takeaways
- India is a premier global investment destination.
- PM Modi emphasized the significance of stable policies for investment.
- Collaboration between India and France can lead to global transformation.
- India's Hydrogen mission targets 100 GW of nuclear energy by 2047.
- AI governance needs transparency and accessibility.
Paris, Feb 12 (NationPress) During his address at the 14th India-France CEO Forum in Paris on Tuesday, Prime Minister Narendra Modi emphasized India's position as a premier global investment hub, attributing this to the "eco-system of stable and predictable policy" established over the last decade under his guidance. He asserted that now is the "right time to invest in India".
"This is the right time to come to India. 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," PM Modi stated during his speech.
"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," the Prime Minister added.
Highlighting India's defense manufacturing capabilities, he remarked, "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 defense."
He continued, "In space tech, we are scaling new heights. This sector has been opened for FDI. We are eager to make India a global bio-tech powerhouse."
During the India-France CEOs Forum, PM Modi invited companies to invest, stating, "1.4 billion people of India have taken the pledge to make #ViksitBharat by 2047, across sectors like defense, advanced technologies, fintech, pharma, textiles, agriculture, aviation, healthcare, highways, space, sustainable development - among others."
He remarked that the collaboration between France's expertise and India's scale could lead to global transformation.
PM Modi expressed his appreciation for the CEO Forum report and endorsed the mantra of "innovate, collaborate and elevate" that is reinforcing the India-France partnership.
"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 added.
PM Modi also discussed India's Hydrogen mission, stating that the country aims for 100 GW of nuclear energy by 2047.
"We have taken up the 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," he elaborated.
SMRs are advanced nuclear reactors boasting a power capacity of 300 MW per unit, while AMR is a kind of SMR that uses non-light water coolants.
PM Modi expressed gratitude towards French President Macron for a "successful" CEO Forum.
"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, and investment and ensures a better future for the coming generations," PM Modi also stated in a post on X.
Earlier on Tuesday, PM Modi advocated for democratic and accessible technologies and bias-free data sets during his address at the AI Summit in Paris. The summit aims to enhance international cooperation in the Artificial Intelligence (AI) domain.
The Prime Minister asserted that AI is coding the narratives of humanity in this century and called for technological governance that promotes innovation and transparency.
He stressed the importance of collective global efforts to establish governance in AI, advocating for increased transparency and accessibility in the sector.
PM Modi received a warm reception from Macron, who greeted him with a hug at a dinner in Paris ahead of their co-chairing of the AI Summit.
At the dinner, PM Modi also met US Vice President JD Vance, who attended the AI Summit.
Prime Minister Modi is on a two-day visit to France.
