India-Australia business ties have entered "execution phase", industry expecting concrete deals and investments
Melbourne, July 9
Business leaders from India and Australia on Thursday said the two countries are moving beyond discussions towards deeper business collaboration, with opportunities emerging across sectors such as critical minerals, clean energy, infrastructure, defence and the digital economy following the Australia-India CEOs Forum.
Speaking to ANI the event, Australia India Business Council National Chair Deepak Raj Gupta said the relationship between the two countries has entered a new phase.
"It's a testament that the Australia-India relationship has really matured now. I think rather than being in a discussion phase, we are coming into an execution phase. The testament to that was that the areas which both Prime Ministers addressed to the gathering here testify that these are the fields where India and Australia can really excel. I think this will now result in business outcomes and continuity for the future as well," Gupta said.
Sanjiv Goenka Group Vice Chairman Shashwat Goenka said the discussions at the forum highlighted significant opportunities for businesses from both countries to work together across several sectors.
"In today's meeting, multiple sectors were discussed where both countries can come together and work together to create new benchmarks for the world to see. Between India and Australia there are many sectors where they can work together, this ranges from education and skilling to green energy, renewable energy, critical minerals, digital economy, banking infrastructure and public infrastructure. There is immense potential for both countries to come together, not just to share learnings, but more importantly, to collaborate on the business opportunities that each of these sectors represents," he said.
FICCI Representative Australia Molina Asthana (GAICD) said both countries should now focus on implementing ideas that have been discussed over the years and expand cooperation into newer sectors.
"So, there are so many interesting and new areas for collaboration beyond what we used to speak about--the cricket, Commonwealth, and curry. Critical things like infrastructure, critical minerals, defence, aerospace, and also sport and community connections," she said.
Earlier in the day, 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. According to the Prime Minister's Office, Modi highlighted opportunities for greater collaboration in manufacturing, clean energy, critical minerals, infrastructure, artificial intelligence, fintech and the digital economy, while calling for an early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen trade and investment ties between the two countries.
— ANI
Reader Comments
As someone who works in Australian-Indian trade, this is huge. The Indo-Pacific Economic Framework (IPEF) and these bilateral talks are finally aligning. India's demand for lithium and rare earths for battery manufacturing is massive, and Australia has the supply. This isn't just talk—money will start flowing.
Good to see progress, but I worry about the "execution phase" being just more meetings. We've heard this before. The real test will be in how many Australian mining companies actually set up processing units in India. And will this create jobs for our youth in AI and fintech, or just remain corporate deals?
The potential in critical minerals is a game-changer. Australia has 50% of the world's lithium reserves, and India needs batteries for its EV push. If we can secure supply chains without relying on China, that's a strategic win. Defence cooperation also makes sense given shared concerns in the Indian Ocean.
I'm cautiously optimistic. Education and skilling are mentioned, but will there be actual scholarships and exchange programs? Not just for business leaders, but for regular students too. India's youth need access to Australian research facilities. Otherwise this is just another photo op with CEOs.
Great to see PM Modi and Albanese working together. The digital economy part excites me—Australia has expertise in fintech regulation, and India has UPI. This could lead to interoperability. But we need to ensure data sovereignty is respected. India shouldn't become a dumping ground for Australian tech without reciprocal benefits.
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