PM Modi Invites Australian Businesses To Expand Long-Term Investments In India

New Delhi, Jul 9 (KNN) Prime Minister Narendra Modi on Thursday invited Australian businesses to expand long-term investments in India, highlighting opportunities across manufacturing, clean energy, critical minerals, infrastructure and emerging technologies during the Australia-India CEOs Forum and the Economic Roadmap Business event in Melbourne.

Modi Invites Australian Investment Across Key Sectors

Prime Minister Modi and his Australian counterpart Anthony Albanese jointly addressed the two business events, attended by leading CEOs, institutional investors, representatives of Australian superannuation funds and vice-chancellors of major Australian universities.

Addressing the CEOs Forum, Modi said India's economic growth, policy reforms, digital transformation and expanding innovation ecosystem are creating significant opportunities for Australian businesses.

He highlighted investment potential in sectors including manufacturing, clean energy, mining, critical minerals, infrastructure, urban development, aviation, logistics, artificial intelligence, fintech, food processing and the digital economy.

He said the complementary strengths of the Indian and Australian economies present a mutually beneficial opportunity and encouraged Australian investors to participate in India's long-term growth story.

Calls for Deeper Collaboration in Education and Innovation

The Prime Minister also welcomed the growing presence of Australian universities in India and called for deeper collaboration in higher education, research, innovation and skill development to prepare talent for future global opportunities.

Later, addressing the Economic Roadmap Business event attended by more than 200 business leaders, Modi said the shared democratic values, strong people-to-people ties and common vision for the Indo-Pacific provide a solid foundation for expanding bilateral economic cooperation.

Push for Early India-Australia CECA

Highlighting the progress made under the India-Australia Economic Cooperation and Trade Agreement (ECTA), he called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen trade and investment ties.

Modi 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.

He also emphasised the need for stronger economic partnerships between Indian states and Australian provinces based on their respective industrial strengths to deepen bilateral commercial engagement.

Expressing confidence in the future of India-Australia economic relations, Modi said the ideas emerging from the two business forums would help further strengthen trade, investment and innovation partnerships between the two countries.

(KNN Bureau)