MELBOURNE, July 9/INDIAN ABROAD NEWSDESK
Prime Minister Anthony Albanese and India’s Prime Minister Narendra Modi have called on businesses to accelerate investment and innovation between Australia and India, telling senior industry leaders that closer commercial ties are critical to long-term economic growth and regional prosperity, according to India’s Prime Minister’s Office (PMO).
According to India’s PMO, the two leaders jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business Event in Melbourne, attended by leading business executives, institutional investors, representatives of major Australian superannuation funds and vice-chancellors from Australian universities. The PMO said the meetings focused on expanding trade, investment and innovation under the growing Australia-India economic partnership.
Reuters reported that Prime Minister Modi highlighted India’s strong economic growth, policy reforms and digital transformation, inviting Australian businesses to expand long-term investments across sectors including clean energy, critical minerals, manufacturing, infrastructure, logistics, artificial intelligence, fintech and advanced technologies. The news agency said he described the combination of India’s scale and Australia’s expertise as a significant commercial opportunity for both countries.
According to India’s PMO, Prime Minister Modi also encouraged deeper collaboration in higher education, research, innovation and skills development, welcoming the increasing presence of Australian universities in India. The PMO said stronger academic partnerships would help prepare skilled workforces while supporting innovation and economic growth in both countries.
Reuters reported that Prime Minister Modi urged businesses to build new partnerships in strategic industries including lithium, rare earths, batteries, semiconductors, electric vehicles, defence supply chains and artificial intelligence. The news agency said he also called for an early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to build on the trade gains achieved since the Australia-India Economic Cooperation and Trade Agreement (ECTA) came into force in 2022.
According to India’s PMO, both leaders expressed confidence that closer cooperation between businesses, universities, investors and state governments would further strengthen the Australia-India relationship. Reuters reported that the forum reinforced Australia’s growing importance as one of India’s key strategic and economic partners, with the outcomes expected to create new opportunities for exporters, investors, researchers and the Indian diaspora across Australia.
