Paris, Feb 12: Addressing the 14th India-France CEO Forum in Paris on Tuesday, Prime Minister Narendra Modi highlighted India as the preferred global investment destination thanks to the "eco-system of stable and predictable policy" built under his leadership in the last decade. He said that it was the "right time to come to India" for investment.

"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 said on Tuesday in his address.

"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 said.

Emphasising India's defence manufacturing capabilities, the PM said, "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 defence."

He said, "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."

PM Modi invited companies to invest in India at the India-France CEOs Forum and said, "1.4 billion people of India have taken the pledge to make #ViksitBharat by 2047, across sectors like defence, advance technologies, fintech, pharma, textiles, agriculture, aviation, healthcare, highways, space, sustainable development - among others."

When France's finesse meets India's scale, it will lead to global transformation, PM Modi also said while addressing the CEO Forum.

PM Modi welcomed the CEO Forum report and hailed the mantra of "innovate, collaborate and elevate" that is strengthening 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."

During the forum, PM Modi also talked about India's Hydrogen mission and said that the country has set a target of 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," PM Modi said.

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 thanked the 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 said in an X post.

Earlier on Tuesday, PM Modi called for democratic and accessible technologies and bias-free data sets as he addressed the AI Summit in Paris. The summit aims to bolster international cooperation in the Artificial Intelligence (AI) domain.

The Prime Minister asserted that AI is writing the codes of humanity in this century and urged for technological governance promoting innovation and transparency.

He stressed the need for collective global efforts to establish governance in AI and called for greater transparency and accessibility in the field.

PM Modi received a warm welcome 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 also attended the AI Summit.

Prime Minister Modi is on a two-day visit to France.

(IANS)

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