Prime Minister Narendra Modi has invited Australian businesses to expand their investments in India while calling for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA).
Speaking alongside Australian Prime Minister Anthony Albanese at the Australia-India CEOs Forum and the Economic Roadmap Business event in Melbourne, PM Modi outlined India's growth potential and the next phase of economic cooperation between the two countries.
Addressing leading CEOs and business leaders from India and Australia, PM Modi said India's strong economic growth, policy reforms, digital transformation and expanding innovation ecosystem are creating fresh opportunities for global businesses.
He said India offers "unmatched opportunities for growth and innovation" and invited Australian companies to "invest and innovate in India."
PM Modi highlighted opportunities across manufacturing, clean energy, critical minerals, mining, infrastructure, artificial intelligence, fintech and the digital economy, adding that India's scale and Australia's expertise create a "win-win proposition."
In a post on X, PM Modi said discussions covered sectors including aviation, transport and logistics, financial services, critical minerals, technology, food processing, food security and skilling.
At the Economic Roadmap Business event, attended by more than 200 CEOs and business leaders, he also encouraged collaboration in critical minerals, semiconductors, electric vehicles, defence, rare earths, lithium, batteries, electronics, artificial intelligence and defence supply chains.
PM Modi welcomed the growing presence of Australian universities in India and said stronger cooperation in higher education, research, innovation and skill development would prepare talent in both countries for global opportunities.
He also urged Indian states and Australian provinces to build dynamic economic partnerships based on their respective strengths to further deepen bilateral business ties.
Expressing satisfaction with the progress under the Economic Cooperation and Trade Agreement (ECTA) signed in 2022, PM Modi called for an early conclusion of CECA, which India and Australia are actively negotiating.
According to the Ministry of External Affairs, PM Modi said that shared democratic values, a common vision for the Indo-Pacific, vibrant people-to-people ties and strong political understanding provide a strong foundation for expanding business cooperation.
Australia is India's 14th-largest trading partner, with bilateral trade in goods and services valued at $24.1 billion during 2025-26.
PM Modi is visiting Australia on the second leg of his three-nation tour after Indonesia and will travel to New Zealand next.
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India and Australia are working to deepen their economic partnership through investment, trade, technology, education and strategic sector collaboration. The proposed CECA and expanding business engagement reflect the growing scope of bilateral economic cooperation.
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Published on: Jul 9, 2026, 3:58 PM IST
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