IndiaAustralia – Modi Calls for Wider Investment and Technology Cooperation With Australia
IndiaAustralia – Bilateral trade and investment cooperation between India and Australia took centre stage as Prime Minister Narendra Modi met Australian Prime Minister Anthony Albanese during the India-Australia CEO Forum and Economic Roadmap Business Reception. The two leaders also shared a selfie after the event, marking a lighter moment following discussions focused on business, strategic ties and future economic cooperation.
Leaders highlight partnership during global uncertainty
Addressing business representatives from both countries, Modi said India and Australia were well placed to work more closely at a time when global markets are facing supply disruptions, energy concerns and broader uncertainty. He described the two countries as natural and trusted partners and encouraged companies to explore new opportunities in priority sectors.
Modi said the gathering of industry leaders reflected growing confidence in the relationship. He urged businesses to expand cooperation in clean energy, infrastructure, artificial intelligence, education and advanced manufacturing.
Trade agreement strengthens commercial links
The Prime Minister pointed to the India-Australia Economic Cooperation and Trade Agreement, signed in 2022, as an important step in improving market access and strengthening commercial ties. According to Modi, Indian exports to Australia have doubled since the agreement came into force, while businesses in both countries have gained from easier access to each other’s markets.
He said the two governments were now working towards a broader Comprehensive Economic Cooperation Agreement. Modi described the current phase as an opportunity for investment and innovation to move from planning into large-scale implementation.
Clean energy and nuclear cooperation discussed
Clean energy was among the main areas highlighted during the forum. Modi said India was developing manufacturing capacity for hydroelectric projects, green hydrogen, solar modules and wind energy equipment. He reiterated India’s target of reaching 500 gigawatts of renewable energy capacity by 2030 and achieving net-zero emissions by 2070.
Australia’s technology capabilities, investment capacity and natural resources could support India’s transition to cleaner energy, he said. Modi also referred to recent changes that have opened India’s nuclear sector to private companies.
India has set a goal of developing 100 gigawatts of nuclear energy capacity by 2047, he said, adding that Australia’s uranium reserves could have a role in supporting India’s long-term nuclear energy plans.
Infrastructure offers opportunities for Australian investors
Modi invited Australian long-term investors to consider opportunities in India’s expanding infrastructure sector. He cited ports, airports, highways, railways and urban development projects as areas where Australian institutions could participate.
He said India’s highway construction and railway expansion were continuing at a significant pace, creating demand for financing, engineering, technology and project management. The Prime Minister said the scale of development, combined with policy stability, could make India an attractive destination for long-term capital.
Technology, industry and pension funds in focus
The Prime Minister also called for stronger cooperation in low-carbon industrial production. India and Australia already work together in the steel sector, he said, and could explore partnerships in green iron, low-carbon aluminium and cleaner manufacturing technologies.
Modi noted that the Indian government has committed more than $10 billion to programmes linked to artificial intelligence, quantum technology and semiconductor development. He said the two countries could collaborate on data centres, digital public infrastructure, AI applications and semiconductor supply chains.
Australian pension funds, which manage assets worth more than $4 trillion, were also invited to increase their participation in India’s growth story. Modi said India viewed pension investments as a long-term responsibility and aimed to provide stable and sustainable opportunities for global investors.
Education and regional partnerships gain importance
Education was another area of discussion. Modi noted that Deakin University and the University of Wollongong have established campuses at GIFT City in Gujarat. He said these developments showed confidence in India’s education ecosystem and could help shift student mobility towards stronger talent partnerships.
Concluding his remarks, Modi said the India-Australia relationship should expand beyond national capitals and major cities. He proposed more state-to-state and sector-to-sector partnerships involving universities, industries and local governments in both countries.