Prime Minister Narendra Modi on Thursday described India and Australia as ‘natural and trusted partners’ amid global uncertainty and urged businesses from both nations to expand collaboration across key sectors.
Addressing business leaders at the Economic Roadmap Business Reception during the India-Australia CEO Forum, PM Modi said their participation reflected the shared confidence and aspirations of both countries.
The Prime Minister said geopolitical uncertainties, supply chain disruptions and the global energy crisis make stronger India-Australia cooperation both essential and timely. He highlighted the India-Australia Economic Cooperation and Trade Agreement (ECTA),
Signed in 2022, as a milestone that has doubled India’s exports to Australia and opened fresh business opportunities. He added that both countries are now working towards a Comprehensive Economic Cooperation Agreement (CECA) to strengthen bilateral trade further.
PM Modi said both governments have created a strong platform for investment and innovation. He invited Australian businesses to invest in India’s rapidly growing clean energy sector, including hydropower, green hydrogen, solar modules and wind energy equipment.
Prime Minister Modi reaffirmed India’s target of achieving 500 GW renewable energy capacity by 2030 and Net Zero emissions by 2070, while noting Australia’s expertise, finance and uranium reserves could support India’s nuclear energy expansion after recent policy reforms allowing private participation.
The Prime Minister also invited long-term investments in ports, airports, highways, railways and urban infrastructure. He highlighted opportunities in steel, low-carbon aluminium, green iron, artificial intelligence, quantum technology, semiconductors, data centres and digital public infrastructure.
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