Australian Prime Minister Anthony Albanese on Thursday reaffirmed his government's commitment to expanding economic engagement with India, saying Australia will continue working closely with businesses and universities to strengthen commercial ties between the two countries.
Following his meeting with Prime Minister Narendra Modi, Albanese said the partnership was helping drive economic growth while creating new opportunities for businesses in both nations.
“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.
During his visit, Modi also met former Australian Prime Minister Scott Morrison, with whom he discussed the enduring friendship between India and Australia.
Earlier in the day, Modi urged Australian companies to view India as a long-term investment destination, describing the combination of India's vast market and Australia's expertise as a "win-win proposition." He also called for an early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen bilateral economic relations.
Addressing the Australia-India CEOs Forum alongside Albanese, the Prime Minister highlighted India's robust economic growth, policy reforms, digital transformation and expanding innovation ecosystem as key factors opening fresh avenues for Australian businesses.
He identified a broad range of sectors with significant investment potential, including 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.
Modi also encouraged Australian investors to capitalise on India's long-term growth prospects and expanding investment landscape.
Welcoming the increasing presence of Australian universities in India, the Prime Minister said greater cooperation in higher education, research, innovation and skill development would equip talent in both countries for emerging global opportunities.
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