Knews Desk- Prime Minister Narendra Modi reached Melbourne, Australia as part of his three-nation foreign tour, where while addressing the India-Australia CEO Forum, he described India as the most reliable center for global investment. He said that India is progressing rapidly in the field of green energy, nuclear energy and modern infrastructure and is working towards becoming the world’s leading clean energy hub in the coming years.
PM Modi said that India is moving rapidly towards the target of achieving 500 GW of renewable energy capacity by 2030 and net-zero carbon emissions by 2070. He said that the country is developing a strong manufacturing ecosystem for hydropower, green hydrogen, solar modules and wind turbines. Besides, a target of 100 gigawatt nuclear energy capacity by 2047 has also been set.
He said Australia’s huge uranium reserves and its technical expertise could give impetus to India’s nuclear power plans. The PM invited Australian companies to make long-term investments in India’s port, airport, railway, road and urban infrastructure projects.
The Prime Minister said that the economies of India and Australia complement each other. India’s huge market and Australia’s technology, capital and resources can become the basis of a beneficial partnership for both the countries. He described clean energy, critical minerals, mining, manufacturing, aviation, logistics, artificial intelligence, fintech, food processing and digital economy as major areas of cooperation.
Addressing more than 200 leading Australian industrialists at the CEO Forum, PM Modi said that democratic values, shared vision of the Indo-Pacific region and strong public relations between the two countries are taking economic relations to new heights. Referring to the 2022 trade agreement, he appealed for early finalization of the Comprehensive Economic Cooperation Agreement (CECA).
PM Modi also called for increasing joint investment in rare earths, lithium, batteries, electric vehicles, artificial intelligence and defense sector. He stressed on developing direct partnerships between the states of India and the provinces of Australia, saying that this will give new strength to the trade and investment relations between the two countries.
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