GG News Bureau
Melbourne, 9th July: Prime Minister Narendra Modi on Wednesday invited Australian businesses to expand long-term investments in India, highlighting the country’s rapid economic growth, policy reforms and digital transformation while calling for stronger economic cooperation between the two nations.
Prime Minister Modi, along with Australian Prime Minister Anthony Albanese, jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business event in Melbourne. The events were attended by leading CEOs, institutional investors and university leaders from both countries.
Addressing the CEOs Forum, Modi said India’s expanding innovation ecosystem and economic reforms have created significant opportunities for Australian companies. He highlighted sectors including manufacturing, clean energy, critical minerals, mining, infrastructure, urban development, aviation, logistics, artificial intelligence, fintech, food processing and the digital economy.
He said India’s scale and Australia’s expertise offer a mutually beneficial partnership and urged Australian investors to take advantage of long-term investment opportunities in the country.
The Prime Minister also welcomed the growing presence of Australian universities in India, saying deeper collaboration in higher education, research, innovation and skill development would help prepare future-ready talent and unlock global opportunities.
Speaking at the Economic Roadmap Business event, Modi said shared democratic values, strong people-to-people ties and a common Indo-Pacific vision have laid a strong foundation for expanding business relations.
Referring to the India-Australia Economic Cooperation and Trade Agreement (ECTA), the Prime Minister called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen bilateral trade and investment.
He urged businesses from both countries to leverage their complementary strengths in sectors such as rare earths, lithium, batteries, electronics, electric vehicles, semiconductors, artificial intelligence and defence supply chains. Modi also encouraged Indian states and Australian provinces to build direct economic partnerships based on their respective strengths.
Expressing confidence in the future of bilateral ties, Modi said the ideas generated during the business forums would further deepen India-Australia economic cooperation.
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