Indo-French ties have received a boost in the last two years with high-level engagements and expansion of the already strong cooperation.
PM Modi has made two bilateral visits to France since assuming office -- in April 2015 and again in June this year when he met the newly elected Mr Macron.
He also visited Paris in November 2015 for the Conference of Parties climate summit during which he and then French President Francois Hollande jointly launched the India-initiated International Solar Alliance.
Defence cooperation between the two countries have been growing within the framework of structured talks under the Indo-French Defence Cooperation Agreement.
"The Prime Minister said that defence and security are two important pillars of the India-France Strategic Partnership, and appreciated the growing bilateral engagement in all sectors," the PMO statement said.
"The Prime Minister also said that he looks forward to receiving President Macron in India at his earliest convenience," it added.
Earlier in the day, External Affairs Minister Sushma Swaraj also held a meeting with Mr Etienne.