India is now favoured global investment destination due to its stable polity: PM Modi tells CEOs Forum in Paris

Addressing the forum jointly with French President Emmanuel Macron, PM Modi the expanding India-France business and economic collaboration and the impetus it has provided to the strategic partnership between the two countries.

The forum brought together CEOs from a diverse group of companies from both sides, focusing on sectors such as defence, aerospace, critical and emerging technologies, infrastructure, advanced manufacturing, artificial intelligence, life-sciences, wellness and lifestyle, and food and hospitality.

Talking of the reforms announced in the recent budget, PM Modi said: "The insurance sector was now open for 100% FDI and civil nuclear energy sector for private participation with focus on SMR and AMR technologies."

He also informed the forum of the customs rate structure being rationalised, and a simplified income tax code was being brought in to enhance ease of living.

Referring to the government’s commitment to continue ushering in reforms, he said a high-level committee for regulatory reforms had been constituted to establish trust-based economic governance.

"In the same spirit, more than 40,000 compliances had been rationalized in the last few years," said he.

The Indian Prime Minister invited French companies to look at the immense opportunities offered by the India growth story, in the defense, energy, highway, civil aviation, space, healthcare, fintech and sustainable development sectors.

Underlining global appreciation and interest in India’s skills, talent, and innovation and in its newly launched AI, Semiconductor, Quantum, Critical Minerals and Hydrogen missions, he called upon French enterprises to partner with India for mutual growth and prosperity.

He outlined the importance of active engagement in these sectors, reaffirming the commitment of both nations to fostering innovation, investment, and technology-driven partnerships.

External Affairs Minister Dr. S. Jaishankar, alongside the Minister for Europe and Foreign Affairs of France, Jean-Noël Barrot, also addressed the Forum.