PM Modi Invites Australian Firms to Expand Investments in India

Prime Minister Modi welcomed the expansion of trade and investment under the India-Australia Economic Cooperation and Trade Agreement (ECTA), which came into effect in 2022.

Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business event in Melbourne, encouraging businesses from both countries to expand investment, strengthen trade and build long-term economic partnerships.

The two events brought together leading business executives, representatives of major Australian superannuation funds, institutional investors and vice-chancellors from prominent Australian universities. The discussions focused on exploring new opportunities for collaboration across a wide range of sectors while reinforcing the growing economic relationship between India and Australia.

Addressing the CEOs Forum, Prime Minister Modi said India's strong economic growth, ongoing policy reforms, digital transformation and expanding innovation ecosystem are creating fresh opportunities for international investors. He highlighted the complementary strengths of the Indian and Australian economies, saying they provide a solid foundation for deeper commercial engagement.

Wide range of sectors identified for future cooperation

Prime Minister Modi invited Australian companies to make long-term investments in India, pointing to opportunities in manufacturing, clean energy, critical minerals, mining, infrastructure, urban development, aviation, logistics, advanced technologies, artificial intelligence, fintech, food processing and the digital economy.

He said India's large market combined with Australia's expertise creates significant potential for mutually beneficial partnerships. Modi also welcomed the growing presence of Australian universities in India and said stronger collaboration in higher education, research, innovation and skill development would help prepare future-ready talent while opening new global opportunities for both countries.

During the Economic Roadmap Business event, attended by more than 200 business leaders, the Prime Minister said the strong relationship between India and Australia is supported by shared democratic values, close people-to-people connections, a common vision for the Indo-Pacific region and growing political trust.

Leaders push for stronger trade and regional partnerships

Prime Minister Modi welcomed the expansion of trade and investment under the India-Australia Economic Cooperation and Trade Agreement (ECTA), which came into effect in 2022. He called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA), saying the agreement would further strengthen commercial ties and unlock new business opportunities.

He encouraged companies from both countries to work together in emerging industries such as rare earths, lithium, batteries, electronics, electric vehicles, semiconductors, artificial intelligence and defence supply chains. Modi also suggested that stronger partnerships between Indian states and Australian provinces, built around their individual economic strengths, would help drive the next phase of bilateral growth.

Expressing confidence in the discussions held during both business forums, the Prime Minister said the ideas shared by industry leaders demonstrated the growing momentum behind India-Australia economic cooperation and laid the foundation for an even stronger partnership in the years ahead.