Prime Minister Narendra Modi emphasized the strengthening economic ties between India and Australia, calling them “natural and trusted partners” in the face of global uncertainties. Speaking at the India-Australia CEO Forum’s Economic Roadmap Business Reception, PM Modi urged businesses from both nations to enhance collaboration across various sectors like clean energy, infrastructure, artificial intelligence, and education. He noted that the India-Australia Economic Cooperation and Trade Agreement (ECTA) has significantly boosted bilateral economic relations, leading to a doubling of exports from India to Australia.
PM Modi highlighted the importance of the Comprehensive Economic Cooperation Agreement and the opportunities it presents for businesses in both countries. He mentioned the growth in exports, new market access, and the potential for further economic cooperation between India and Australia. The Prime Minister also focused on the clean energy sector, mentioning India’s efforts in building a robust manufacturing ecosystem for renewable energy projects such as hydroelectric, green hydrogen, solar, and wind energy.
Addressing representatives from the clean energy industry, PM Modi outlined India’s ambitious targets for renewable energy capacity and Net Zero emissions. He emphasized the role that Australia’s expertise, resources, and reserves could play in accelerating India’s energy transition. Additionally, PM Modi invited Australian investors to participate in India’s expanding infrastructure sector, highlighting opportunities in ports, airports, highways, railways, and urban development projects.
PM Modi underlined the potential for collaboration in emerging technologies, citing initiatives like the AI Mission, Quantum Mission, and Semiconductor Programme. He mentioned the significant support provided by the Indian government for these initiatives and called for global cooperation in developing solutions in areas like data centers, AI, quantum technology, semiconductors, and digital infrastructure. The Prime Minister also assured Australian investors of India’s stability and reliability as an investment destination, emphasizing responsible treatment of their capital.
Highlighting the cooperation in education and skill development, PM Modi noted the presence of Australian universities in India and emphasized the goal of transforming student mobility into talent partnerships. He concluded by stressing the need for the India-Australia partnership to extend beyond national capitals and involve states, cities, universities, and industries across both countries. PM Modi proposed specific state-to-state and sector-to-sector partnerships to further enhance the bilateral relationship.
