Industry leaders from India and France have agreed to set up five task forces to address issues in areas including energy, defence and aerospace to deepen business ties between the two countries.
The Indo-French CEO Forum, which met last evening in Paris during Prime Minister Narendra Modi’s visit, announced that the five joint task forces will be mandated to monitor field initiatives and solve potential issues.
“They are ready to help define, in a time-bound manner, with a report back to Prime Minister Modi and President Hollande, useful policy initiatives to help remove any possible obstacles,” read a joint declaration of the forum.
“We propose to focus on five success stories that will showcase the new business-friendly environment and stimulate further investments. These concrete initiatives will demonstrate federal and state dedication and alignment, respect of pre-agreed timeframe and enforceability of contracts,” it said.
The forum also intends to submit by May-end a list of 10 initiatives for Prime Minister Modi’s consideration and selection.
In November 2012, the forum agreed on key measures that would facilitate successful PPP projects. The task forces will also be asked to potentially review and adapt these principles for speedy implementation.