Will keep working to grow economic ties with India: Australian PM Albanese
Melbourne, July 9
Australian Prime Minister Anthony Albanese on Thursday said that they will keep working with business leaders and universities to grow Australia's economic ties with India.
After meeting Prime Minister Narendra Modi here, Albanese said that together, "we're growing our economies and backing Australian and Indian businesses".
"The bond between our people has driven so many of our business success stories. And we'll keep working with business leaders and universities to grow Australia's economic ties with India," the Australian PM posted on X.
"Creating jobs here at home and making the most of the trade and investment opportunities ahead," he added.
Meanwhile, PM Modi also met Scott Morrison, former Prime Minister of Australia, and had a great conversation on the India-Australia friendship.
Earlier, PM Modi pitched India as a long-term investment destination for Australian businesses, saying the country's scale and Australia's expertise make for a 'win-win proposition', while urging faster conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to deepen bilateral economic ties.
Jointly addressing the Australia-India CEOs Forum here with Albanese, PM Modi said India's strong economic growth, policy reforms, digital transformation and expanding innovation ecosystem creating new opportunities for Australian companies.
Highlighting the complementarities between the two economies, he pointed to investment opportunities across manufacturing, clean energy, critical minerals, mining, infrastructure, urban development, aviation, logistics, advanced technologies, artificial intelligence (AI), fintech, food processing and the digital economy.
"India's scale and Australian expertise make for a win-win proposition," he said.
The Prime Minister also invited Australian investors to take advantage of long-term investment opportunities in India.
PM Modi welcomed the growing presence of Australian universities in India, saying deeper collaboration in higher education, research, innovation and skill development would prepare talent in both countries for future global opportunities.
— IANS
Reader Comments
Finally some good news on the economic front! The way PM Modi is pitching India as an investment destination is inspiring. But I hope we also focus on fair trade deals that benefit our small businesses and farmers, not just big corporations. Australia-India partnership has huge potential if done right.
Living in Melbourne, I see the Indian community contributing so much to our economy and culture. This partnership makes perfect sense - India's scale and Australia's resources. My company is already looking at opportunities in fintech and AI. The future is bright! 🚀
As an Indian professional who studied in Australia, I can vouch for the quality of education and research collaboration. The fact that Australian universities are expanding in India is fantastic - it will create more opportunities for Indian students and strengthen ties between our youth. Win-win indeed! 🙌
Good diplomatic move by both leaders. But I hope we negotiate smartly - Australia has been protective of its agricultural sector, and we need reciprocal access for Indian products. Also, let's not forget the human element: easier visa processes and student exchanges should be part of this deal too.
I work in the critical minerals sector in Western Australia, and India's demand for lithium and rare earths is enormous. This partnership could secure supply chains and boost both economies. Plus, collaboration on green hydrogen and solar energy - we're perfectly positioned to help India meet its renewable targets.
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