Australian Prime Minister Anthony Albanese expressed commitment to enhancing economic relations with India through collaboration with business leaders and universities. Following a meeting with Indian Prime Minister Narendra Modi, Albanese highlighted the mutual growth of their economies and support for businesses in both countries. He emphasized the importance of fostering economic ties with India to create job opportunities and maximize trade and investments.
During the same visit, PM Modi engaged in discussions with former Australian Prime Minister Scott Morrison, underscoring the strong bond between India and Australia. PM Modi encouraged Australian businesses to view India as a lucrative long-term investment destination, citing the potential for a mutually beneficial partnership. He also urged expedited negotiations on the Comprehensive Economic Cooperation Agreement (CECA) to deepen economic cooperation between the two nations.
At the Australia-India CEOs Forum, PM Modi and Albanese jointly addressed the audience, highlighting India’s economic growth, policy reforms, and innovation ecosystem as conducive to Australian companies. They identified various sectors for collaboration, including manufacturing, clean energy, infrastructure, technology, and artificial intelligence, emphasizing the synergies between the two economies. PM Modi invited Australian investors to explore the long-term investment prospects in India, emphasizing the favorable investment climate.
Moreover, PM Modi welcomed the increased presence of Australian universities in India and stressed the importance of enhanced cooperation in education, research, and skill development. He emphasized the significance of preparing talent in both countries for global opportunities through collaboration in higher education and innovation initiatives.
