PM Modi in Australia: PM Modi’s big message to Australian investors, invited golden opportunities to invest in India

New Delhi/Melbourne. Prime Minister Narendra Modi, during his visit to Australia, called on Australian investors and industry to increase long-term investment in India. He said that India’s rapid economic growth, policy reforms, digital transformation and rapidly developing innovation ecosystem have brought new opportunities for global investors.

Prime Minister Modi jointly addressed the Australia-India Chief Executives (CEO) Forum and Economic Roadmap business event held in Melbourne with Australian Prime Minister Anthony Albanese. The events were attended by leading industrialists from both countries, Chief Executive Officers (CEOs), institutional investors, representatives of superannuation funds and Vice Chancellors of Australia’s leading universities.

Big investment opportunities in these areas

Addressing the CEO Forum, Prime Minister Modi said that the economies of India and Australia complement each other. He said that both the countries can take advantage of the vast possibilities together in the following areas:

• Manufacturing
• clean energy
• Critical Minerals and Mining
• Infrastructure and urban development
• Aviation and Logistics
• advanced technology
• Artificial Intelligence (AI)
• fintech
• food processing
• digital economy

The Prime Minister said that India’s huge market and Australia’s expertise will prove to be equally beneficial for both the countries. He appealed to Australian investors to take full advantage of the long-term investment opportunities in India.

Emphasis also given on education and innovation

Prime Minister Modi welcomed the growing presence of Australian universities in India. He said that deeper cooperation in the field of higher education, research, innovation and skill development will prepare the young talents of both the countries for the future global needs.

Emphasis on giving new heights to business relations

After the CEO Forum, Prime Minister Modi also addressed the Economic Roadmap Business Event, which was attended by over 200 industry representatives from India and Australia.

He said that the shared democratic values ​​of the two countries, common vision of the Indo-Pacific region, strong people-to-people relations and political trust are the basis for further strengthening the economic partnership.

The Prime Minister expressed satisfaction at the progress made in trade and investment relations following the Economic Cooperation and Trade Agreement (ECTA) signed in 2022. He also stressed the need to quickly finalize the proposed Comprehensive Economic Cooperation Agreement (CECA), so that the economic relations between the two countries can reach new heights.

Call to work together on future technologies

Prime Minister Modi urged the industry to jointly develop global solutions in strategic sectors such as rare earth minerals, lithium, battery manufacturing, electronics, electric vehicles (EV), semiconductors, artificial intelligence (AI) and defense supply chain.

He also suggested that economic partnerships be developed between Indian states and Australian territories based on their special capabilities, thereby giving a new impetus to investment and trade.

Expressed confidence regarding economic partnership

Referring to the positive discussions held in both the programs, Prime Minister Modi expressed confidence that the economic relations between India and Australia will become stronger in the coming times and new possibilities will open up in the fields of trade, investment and innovation.

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