Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese took a historic selfie at the India-Australia CEO Forum. Describing both the countries as ‘trusted partners’, Modi called for increased cooperation in clean energy, infrastructure and AI.
melbourne [ऑस्ट्रेलिया]July 9 (ANI): Capturing a moment of warm friendship beyond formal diplomacy, Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese shared a historic selfie after their participation in the India-Australia CEO Forum and Economic Roadmap Business Reception. This candid moment perfectly reflected the spirit of high-level economic and strategic engagement between the two countries.
The visual highlight was the culmination of an intense day of bilateral diplomacy, where Prime Minister Narendra Modi described the two countries as “natural and trusted partners” amid global uncertainty, highlighting the growing economic synergy between India and Australia. He urged enterprises from both sides to intensify cooperation in key areas including clean energy, infrastructure, artificial intelligence and education.
‘India-Australia are natural and reliable partners’
Earlier, welcoming corporate leaders from both countries at the Economic Roadmap Business Reception during the India-Australia CEO Forum, PM Modi said their participation reflected the “shared confidence and aspirations” of India and Australia, setting the stage for his keynote address.
Addressing the Forum, the Prime Minister said, “Today, the world is going through a period of uncertainty, supply chain disruptions and energy crisis. At such a time, it is both natural and necessary for India and Australia to move forward as natural and trusted partners. Over the past few years, we have created a strong framework for future cooperation by combining the capabilities of both the countries.”
Economic Cooperation and Trade Agreement (ECTA)
As a foundational success of this partnership, PM Modi said that the India-Australia Economic Cooperation and Trade Agreement (ECTA), finalized in record time in 2022, has significantly strengthened bilateral commercial ties, opening new avenues for businesses in both the countries. “Since its implementation, India’s exports to Australia have doubled, and businesses in both countries have benefited from new market access; however, we are not stopping there – we are now moving towards a Comprehensive Economic Cooperation Agreement,” he said.
Building on this momentum, he further said, “Through these efforts, the governments of both the countries have created a new runway, and the plane of investment and innovation is now ready to take off. It is up to all of you to take it to new heights.”
Cooperation in clean energy and nuclear sector
To fuel this next phase of growth, the Prime Minister focused on the clean energy landscape, saying India is rapidly developing a strong manufacturing infrastructure for hydropower initiatives, green hydrogen, solar modules and wind energy infrastructure. Interacting directly with representatives of clean energy firms at the forum, he said, “We are building a manufacturing ecosystem for hydro projects, green hydrogen, solar modules and wind mills in India.”
The Prime Minister noted that India targets 500 GW of renewable energy capacity by 2030 and aims to achieve net zero emissions by 2070, adding that Australia’s technical expertise, financial capital and natural reserves are critical to driving India’s green transition. This strategic resource alignment extends directly to the civil nuclear sector.
Detailing the recent statutory reforms, PM Modi said, “A few months ago, India opened up the nuclear sector to private companies. We have set a target of 100 GW of nuclear power by 2047. Australia’s huge uranium reserves are directly linked to India’s nuclear journey.”
Emphasis on infrastructure and industrial synergy
Beyond energy corridors, the Prime Minister introduced India’s booming infrastructure sector to Australian investors, identifying huge potential in ports, airports, highways, railways and urban renewal ventures. He explained, “India’s ports, airports, roads, railways and urban infrastructure sectors hold immense potential for Australian long-term investors. Today, national highways in India are expanding at a pace of approximately 34 kilometers per day. More than 8 kilometers of railway tracks are being laid per day. This represents a confluence of scale, speed and sustainability.”
Along with key infrastructure, he pitched for deeper industrial synergy, saying India and Australia have already become “strong partners” in the steel industry and could enhance ties in low-carbon aluminium, green iron and eco-friendly manufacturing technologies.
Collaboration in AI, quantum and semiconductor
The Prime Minister also drew attention to the state-of-the-art technological infrastructure, emphasizing that the Government of India has allocated over $10 billion for programs under the AI Mission, Quantum Mission and Semiconductor Program to establish future digital relationships. He said, “The Government of India has provided assistance of over $10 billion under the AI Mission, Quantum Mission and Semiconductor Programme. We can collaborate to develop global solutions in the areas of data centre, AI, quantum technology, semiconductor and digital public infrastructure.”
India a safe market for Australian pension funds
To fund these huge industrial and tech projects, PM Modi highlighted the sheer scale of Australia’s pension funds, assuring global money managers of India’s position as a stable, safe and respectable investment market. He said, “Australian pension funds currently manage over four trillion dollars of assets. In India, pension savings are considered a sacred trust; we view them not just as capital, but as the trust of millions of families. India offers opportunities for safe, stable and sustainable growth of your fund. Our endeavor will be to ensure that both your trust and your capital grow.”
Increased partnership in education sector
This deep institutional trust is already showing a visible footprint in the educational domain, with PM Modi pointing out that Deakin University and University of Wollongong have operated campuses in the Gujarat International Finance Tech-City (GIFT City). “This reflects their confidence in India. Our common goal should be to transform student mobility into talent sharing,” he said.
Expanding partnerships beyond capitals
Concluding his remarks, the Prime Minister emphasized that the India-Australia alliance must go beyond federal ties to closely integrate local economies, educational institutions and regional hubs in both countries. He said, “Our partnership should not be limited to just our capitals or a few select cities; we must involve stakeholders across our states, cities – both big and small – universities and industries.”
“I suggest that, going forward, we identify specific state-to-state and region-to-region partnerships,” the Prime Minister said. (ANI)
(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)