India and Australia have taken another significant step toward strengthening their strategic economic partnership, with Prime Minister Narendra Modi inviting Australian businesses to expand their investments in India during the Australia-India CEOs Forum and the Economic Roadmap Business event held in Melbourne.
The high-level engagements reflected the growing confidence between the two countries and highlighted new opportunities for collaboration across trade, investment, innovation, education, and emerging technologies.
Prime Minister Modi and Australian Prime Minister Anthony Albanese jointly addressed business leaders, corporate executives, institutional investors, and academic representatives, emphasizing that the complementary strengths of the Indian and Australian economies can create long-term mutual benefits.
The discussions also reinforced the shared commitment of both nations to deepen commercial ties under the framework of the India-Australia Economic Cooperation and Trade Agreement (ECTA) while accelerating negotiations on the proposed Comprehensive Economic Cooperation Agreement (CECA).
Addressing the Australia-India CEOs Forum, Prime Minister Modi outlined India's remarkable economic progress over recent years, pointing to sustained economic growth, structural reforms, digital transformation, and a rapidly expanding innovation ecosystem as key drivers of investment opportunities.
He said these developments have positioned India among the world's fastest-growing major economies while creating an attractive business environment for international investors.
“India’s scale and Australian expertise make for a win-win proposition,” the Prime Minister said, while inviting Australian businesses to make long-term investments in India.
The statement reflected India's strategy of combining its large domestic market, skilled workforce, and digital infrastructure with Australia's technological capabilities, investment strength, and expertise in critical industries.
Prime Minister Modi identified several sectors where India and Australia can significantly expand cooperation.
These include:
India's manufacturing ambitions under initiatives such as Make in India continue to create opportunities for global investors in industrial production, logistics, and infrastructure development.
With the global transition toward renewable energy, both countries are well positioned to collaborate in clean energy technologies, mining, lithium processing, rare earth minerals, and battery manufacturing.
Australia's rich reserves of critical minerals complement India's growing demand for these resources in electric vehicles, renewable energy storage, and electronics manufacturing.
The Prime Minister also highlighted opportunities in:
These sectors have become central to India's long-term economic development strategy while also aligning with Australia's technological strengths.
Prime Minister Modi welcomed the increasing presence of Australian universities in India, describing higher education as an important pillar of bilateral cooperation.
He noted that stronger partnerships in:
would help prepare future-ready talent capable of supporting both countries' evolving industries.
Education cooperation has gained considerable momentum following recent policy reforms allowing foreign universities to establish campuses and academic collaborations in India.
Later during the Economic Roadmap Business event, attended by more than 200 CEOs and business leaders, Prime Minister Modi emphasized that India and Australia share multiple strategic advantages beyond trade.
He highlighted:
According to the Prime Minister, these common foundations provide a stable environment for long-term business partnerships and investment collaboration.
Prime Minister Modi expressed satisfaction over the growth in bilateral trade and investment since the implementation of the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022.
The agreement has significantly reduced tariffs across numerous sectors, improving market access for businesses in both countries.
Building on this progress, the Prime Minister called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA), which is expected to further liberalize trade, expand investment flows, and strengthen economic integration.
Industry observers believe CECA could unlock additional opportunities across services, manufacturing, digital trade, and supply chain cooperation.
During his address, Prime Minister Modi encouraged businesses from both countries to jointly develop global solutions in several strategic industries.
These include:
These industries are becoming increasingly important amid global efforts to diversify supply chains and build resilient manufacturing ecosystems.
India's growing domestic market combined with Australia's natural resource advantages creates significant potential for long-term industrial collaboration.
Prime Minister Modi also proposed greater collaboration between Indian states and Australian provinces.
He said region-specific partnerships based on local industrial strengths could accelerate investment, improve knowledge sharing, and generate new economic opportunities beyond national-level agreements.
Such decentralized cooperation could benefit sectors including agriculture, mining, tourism, education, manufacturing, and technology.
One of the major announcements during the visit came from AustralianSuper, which committed to investing AU$500 million in India.
Prime Minister Modi welcomed the announcement, describing it as another strong indicator of international confidence in India's reform agenda, economic stability, and long-term growth potential.
The investment also reflects increasing interest among global institutional investors in India's expanding infrastructure, financial markets, and digital economy.
Sharing details of the interaction on X, Prime Minister Modi said the Australia-India CEOs Forum has gained significant momentum since 2023, reflecting increasing confidence in bilateral economic relations.
He thanked Prime Minister Anthony Albanese for participating in the discussions and supporting efforts to strengthen commercial ties between the two countries.
According to PM Modi, the conversations covered opportunities across:
He reiterated that India continues to offer unmatched opportunities for innovation, investment, and long-term business growth.
The Australia-India CEOs Forum and the Economic Roadmap Business event marked another milestone in the rapidly expanding strategic partnership between India and Australia. Prime Minister Narendra Modi's invitation to Australian businesses to invest in India's fast-growing economy underscores the country's commitment to becoming a global investment and innovation hub.
With strong complementarities in sectors such as clean energy, critical minerals, artificial intelligence, semiconductors, advanced manufacturing, education, and digital technologies, both nations are well positioned to deepen economic cooperation.
The successful implementation of the India-Australia Economic Cooperation and Trade Agreement (ECTA), ongoing negotiations for the Comprehensive Economic Cooperation Agreement (CECA), and AustralianSuper's AU$500 million investment announcement collectively signal growing confidence in India's economic future.
As both countries strengthen business partnerships, the India-Australia relationship is expected to play an increasingly important role in shaping regional economic growth, resilient supply chains, and innovation-led development in the Indo-Pacific.