Prime Minister Narendra Modi emphasized India’s appeal as a lasting investment option for Australian enterprises during a joint address with Australian Prime Minister Anthony Albanese at the Australia-India CEOs Forum. He highlighted India’s robust economic growth, policy reforms, and digital advancements, presenting a favorable environment for Australian companies. PM Modi urged the swift finalization of the Comprehensive Economic Cooperation Agreement (CECA) to enhance bilateral economic relations.
India and Australia were depicted as “natural partners” by PM Modi during the Economic Roadmap Business event, attended by over 200 CEOs and business leaders from both nations. He commended the progress under the Economic Cooperation and Trade Agreement (ECTA) signed in 2022 and called for the expeditious conclusion of the proposed CECA to elevate business ties. The Prime Minister encouraged collaboration in strategic sectors like rare earths, lithium, AI, and defense supply chains to develop global solutions leveraging the strengths of both countries.
PM Modi also welcomed Australian investors to explore long-term investment prospects in India, emphasizing the mutual benefits arising from India’s scale and Australia’s expertise. He acknowledged the increasing presence of Australian universities in India and advocated for deeper cooperation in higher education, research, and skill development to equip talent for global opportunities. The events in Melbourne aimed to foster business cooperation between the two nations, emphasizing shared democratic values, a common Indo-Pacific vision, and strong people-to-people ties as the foundation for expanded collaboration.
