Prime Minister Narendra Modi Tuesday enumerated the steps taken by India towards ease of doing business and rationalising compliances while addressing CEOs in France.
At the India-France CEO Forum in Paris, PM Modi said, “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”.
He said India is becoming “the biggest centre of diversification and de-risking”. “A few days ago, a new generation of reforms were outlined in our budget,” he noted, “New steps have been taken for ease of doing business. In the last few years, we have rationalised 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.”
The Union Budget 2025-2026 of India announced several measures to reduce compliance burdens for businesses and individuals, including the Export Promotion Mission and BharatTradeNet, to reduce compliance burdens and improve logistics efficiency for exporters. It also announced customs duty reforms to be implemented on critical materials, including EV production.
“The National Manufacturing Mission has been announced. And, new sectors, such as the insurance sector, have been opened for 100 per cent FDI. You must study all these initiatives carefully,” Modi said.
The 14th India-France CEOs 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.
“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 opportunities for investments and collaborations in all these areas for all of you,” he said.
External Affairs Minister S Jaishankar, alongside the Minister for Europe and Foreign Affairs of France, Jean-Noël Barrot, and the Minister of the Economy, Finance, and Industrial and Digital Sovereignty of France, Eric Lombard also addressed the Forum.
Earlier in the day, co-chairing the AI Action Summit with French President Emmanuel Macron in Paris, Modi underlined the need for open-source systems that enhance trust and transparency, and build data sets “free from biases”. He also offered to host the next summit in India. The PM said: “AI is already re-shaping our polity, our economy, our security, and even our society. AI is writing the code for humanity in this century.
After the CEO forum, the Prime Minister arrived in Marseille in southern France and paid homage to the memory of freedom fighter V D Savarkar, who attempted a “courageous escape” at the port city. “Landed in Marseille. In India’s quest for freedom, this city holds special significance. It was here that the great Veer Savarkar attempted a courageous escape,” Modi said in a post on X.
PM Modi is in Marseille to inaugurate a new Consulate General of India with French President Emmanuel Macron. The leaders have a series of engagements on Wednesday, including a visit to the Mazargues War Cemetery to honour the sacrifice of Indian soldiers who died fighting in the World Wars. A tour of the International Thermonuclear Experimental Reactor (ITER) project, an international nuclear fusion collaboration, is also on the agenda. (Divya A from IndianExpress)
