Delegation of Indian CEOs expected to visit France during PM Modi’s trip

A delegation of top CEOs from India Inc is expected to be in France during Prime Minister Narendra Modi’s official visit to the country later this month.

According to sources, a meeting of the India France Business Forum is also expected to take place where the delegation would participate. Discussions are likely to be focused on expanding business and economic ties between the two countries.

“The members of the delegation as well as the agenda are still being finalised,” said a person familiar with the development. The focus is expected to be on Make in India as well as partnerships in defence, aviation and space.

Prime Minister Narendra Modi is scheduled to visit France on July 13 and 14. He will attend the Bastille Day Parade in Paris as Guest of Honour on July 14. He is also expected to have a roundtable discussion with CEOs during his visit. 

The Indian Embassy in France had organised the India-France Business Summit on April 11, followed by a lunch of CEOs with Commerce and Industry Minister Piyush Goyal and French Minister Delegate responsible for Foreign Trade, Economic Attractiveness and French Nationals Abroad Olivier Becht. The business forum was held to mark the 25th anniversary of the strategic partnership between the two countries. 

France has also emerged as a major source of foreign direct investment for India and is the 11th largest foreign investor in India with cumulative FDI equity inflow of $ 10.54 billion from April 2000 to March 2023. There are over 1,000 French businesses in India various sectors including defence, ITES, consulting, engineering services, and heavy industries.

Bilateral trade between the two countries is seen to have doubled over the last decade. During FY23, India’s exports to France grew nearly 14.6% year on year to $ 7.6 billion while imports fell marginally by 0.16% to $5.7 billion.