Radio Brisvaani
Melbourne, July 9 (Australia India News Newsdesk)
Australia and India have signalled a renewed push to deepen their economic partnership, with Prime Minister Anthony Albanese and India’s Prime Minister Narendra Modi encouraging business leaders to drive the next phase of bilateral trade, investment and innovation during high-level forums in Melbourne, according to India’s Prime Minister’s Office (PMO).
According to India’s PMO, the leaders jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business Event, bringing together more than 200 business executives, representatives of major Australian superannuation funds, institutional investors and vice-chancellors from leading Australian universities. The PMO said the discussions centred on strengthening commercial partnerships and identifying new areas for long-term collaboration.
Reuters reported that Prime Minister Modi told delegates India’s expanding economy, policy reforms and growing innovation ecosystem were creating significant opportunities for Australian businesses. The news agency said he highlighted sectors including infrastructure, critical minerals, renewable energy, manufacturing, artificial intelligence, logistics, aviation, fintech and digital technologies as areas with strong potential for future investment.
According to India’s PMO, Prime Minister Modi also called for closer cooperation in higher education, research and skills development, saying stronger links between universities and industry would help prepare the workforce for emerging industries. He welcomed the increasing presence of Australian universities in India and encouraged greater collaboration in innovation and talent development.
Reuters reported that both leaders emphasised the importance of concluding negotiations on the proposed Comprehensive Economic Cooperation Agreement (CECA), describing it as the next major step in expanding bilateral trade following the success of the Australia-India Economic Cooperation and Trade Agreement (ECTA). Prime Minister Modi also urged businesses to work together in strategic industries such as semiconductors, batteries, electric vehicles, defence manufacturing and critical minerals.
According to India’s PMO, the business forums reflected growing confidence in the long-term economic partnership between Australia and India. Reuters reported that the discussions reinforced the role of the private sector in driving closer bilateral ties and are expected to generate new opportunities for businesses, investors, universities and skilled professionals, while further strengthening economic links valued by Australia’s Indian diaspora.
