PMINDIA

Your Excellency, President Macron,
Industry leaders from India and France present here,
Namaskar, Bonjour!

I feel a wonderful energy, excitement and dynamism in this room. This isn’t just a normal business event.

It is a confluence of the best business minds of India and France. The report of the CEO Forum that has just been presented is welcome.

I see that all of you are moving ahead with the mantra of Innovate, Collaborate and Elevate. You are not just making boardroom connections. You all are also strengthening the Indo-French strategic partnership.

Friends,

It is a pleasure for me to join this forum with my friend President Macron. This is our sixth meeting in the last two years. Last year, President Macron was the Chief Guest at our Republic Day.

This morning we had co-chaired the AI Action Summit together. I heartily congratulate President Macron for this successful summit.

Friends,

India and France are not just linked by democratic values. The foundation of our friendship is based on the spirit of deep trust, innovation, and public welfare.

Our partnership is not limited to just two countries. We are cooperating together to address global problems and challenges. During my last visit, we had outlined the 2047 roadmap for our partnership. Following that, we are pursuing cooperation in a comprehensive manner in every field.

Friends,

Most of your companies are already present in India. You are active in different areas like aerospace, ports, defence, electronics, dairy, chemicals and consumer goods.

I have had the opportunity to meet many CEOs in India as well. You are well aware of the changes that have taken place in India in the last decade. We have established a stable polity, and 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.

It will soon become the world’s third largest economy. India’s skilled young talent factory and innovation spirit are our identity on the global stage.

Today, India is fast becoming a preferred global investment destination.

We have launched AI, semiconductor and quantum missions in India. In defence, we are promoting Make in India and Make for the World. Many of you are associated with it. We are scaling new heights in space technology. This sector has been opened up for FDI. We are rapidly making India a global biotech powerhouse.

Infrastructure development is a matter of priority for us. And on this, we are doing public expenditure of more than $114 billion a year. We have laid railway tracks on a massive scale, using technology to modernize and upgrade the railways.

We are fast moving towards the target of 500 Gigawatts of renewable energy by 2030. For this, we have promoted solar cell manufacturing. We have also launched the Critical Mineral Mission.

We have also taken up the Hydrogen Mission. For this, electrolyser manufacturing is being emphasized. By 2047, we are aiming for 100 gigawatts of nuclear power. I am happy to share that this sector is being opened up to the private sector. We are focusing on SMR and AMR technologies.

Friends,

Today India is becoming the biggest center of diversification and de-risking. A few days ago, a new generation of reforms were outlined in our budget.

New steps have been taken for ease of doing business. In the last few years, we have rationalized more than 40,000 compliances. To promote trust-based economic governance, a high level committee for regulatory reforms has been formed. The custom rate structure has been rationalised.

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.

The National Manufacturing Mission has been announced. And, new sectors, such as the insurance sector, have been opened for 100 percent FDI. You must study all these initiatives carefully.

Let me tell you all, 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.

Friends,

The 1.4 billion people of India have resolved to build a developed India by 2047. Be it defence or advanced technology, fintech or pharma, tech or textile, agriculture or aviation, healthcare or highways, space or sustainable development. There are many opputunities for investments and collaborations in all these areas for all of you.

I welcome you all to join India’s development journey.

When France’s finesse and India’s scale meet…

When India’s pace and France’s precision join…

When France’s technology and India’s talent unite…

Then, not just business landscape, but global transformation will happen.

Once again, I thank you all very much for taking your precious time to come here.