Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese on Thursday jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business event in Melbourne, calling for deeper economic engagement and expanded investment between the two countries.
The two events brought together leading Indian and Australian CEOs, business leaders, representatives of major Australian superannuation funds and institutional investors, as well as Vice-Chancellors of prominent Australian universities.
Addressing the CEOs Forum, PM Modi highlighted India’s strong economic growth, policy reforms, digital transformation and expanding innovation ecosystem, saying these developments have created significant business opportunities for Australian companies.
He underscored the complementary strengths of the Indian and Australian economies and identified manufacturing, clean energy, critical minerals, mining, infrastructure, urban development, aviation, logistics, advanced technologies, artificial intelligence, fintech, food processing and the digital economy as key sectors for collaboration.
“India’s scale and Australian expertise make for a win-win proposition,” the Prime Minister said, while inviting Australian businesses to make long-term investments in India.
PM Modi also welcomed the growing presence of Australian universities in India and said stronger collaboration in higher education, research, innovation and skill development would prepare talent in both countries for future opportunities while supporting global competitiveness.
Later, addressing the Economic Roadmap Business event attended by more than 200 CEOs and business leaders, the Prime Minister said the two countries share strong democratic values, a common vision for the Indo-Pacific, vibrant people-to-people ties and a high level of political understanding, providing a strong foundation for expanding business partnerships.
Expressing satisfaction over the growth in bilateral trade and investment following the implementation of the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, PM Modi called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen economic ties.
He urged businesses from both countries to leverage their complementary strengths and develop global solutions in strategic sectors such as rare earths, lithium, batteries, electronics, electric vehicles, semiconductors, artificial intelligence and defence supply chains.
The Prime Minister also emphasised the importance of fostering direct economic partnerships between Indian states and Australian provinces based on their respective strengths to unlock new opportunities for bilateral cooperation.
Expressing confidence in the future of India-Australia economic relations, PM Modi said the discussions at both forums reflected growing optimism and generated meaningful ideas for expanding trade, investment and innovation partnerships.
Sharing details of the interaction on X, the Prime Minister said the Australia-India CEOs Forum had gained significant momentum since 2023, reflecting growing confidence in the bilateral economic partnership. He thanked Prime Minister Albanese for participating in the interaction and sharing his vision for taking economic ties to greater heights.
PM Modi said his discussions covered opportunities in sectors including aviation, transport and logistics, financial services, critical minerals, technology, food processing, food security and skilling, while reiterating that India offers unmatched opportunities for growth and innovation.
He also welcomed AustralianSuper’s announcement of an investment of AU$500 million in India, describing it as another demonstration of global confidence in India’s growth trajectory and reform agenda, as well as the vast opportunities the country’s economy offers international investors.
