Prime Minister Narendra Modi recently held bilateral meetings with prominent Australian business leaders to strengthen cooperation and encourage investments in India. The meetings involved key executives such as Gina Rinehart, the Executive Chairman of Hancock Prospecting, Andrew Forrest, the Executive Chairman of Fortescue Future Industry, and Paul Schroder, the CEO of AustraliaSuper. The discussions focused on enhancing collaboration in areas like technology, skilling, and clean energy.
Bilateral Meetings with Business Leaders
During the meetings, Prime Minister Modi highlighted the ongoing reforms and initiatives in India, showcasing the country’s commitment to progress. He extended invitations to the Australian business leaders to join hands in various sectors, including technology, investment, and skilling.
- Gina Rinehart: The Prime Minister emphasized the potential for partnership in technology, investment, and skilling in the mining and minerals sector. The Ministry of External Affairs in New Delhi released a statement regarding this discussion.
- Paul Schroder: Prime Minister Modi expressed India’s attractiveness as one of the most preferred major economies for foreign investments globally. He invited AustraliaSuper to collaborate with India in this context.
- Andrew Forrest: The Prime Minister welcomed the plans of the Fortescue Future Industry group to collaborate with Indian companies in the field of Green Hydrogen. He highlighted India’s ambitious renewable energy plans and the transformative reforms undertaken by the country.
Strengthening India-Australia Relations
The bilateral meetings with the Australian business leaders reflect the growing importance of India-Australia relations. Prime Minister Modi’s visit to Sydney was part of his three-nation tour, where he aimed to enhance cooperation and foster investment opportunities. The visit also included discussions with Australian Prime Minister Anthony Albanese and participation in a community event celebrating the vibrant Indian diaspora in Australia.
India and Australia share significant economic ties, with India being Australia’s largest export market for gold and chickpeas. Coal, copper ores, and petroleum are among the key imports from Australia to India. The bilateral relationship is further strengthened by the implementation of an interim free trade agreement.
Prime Minister Modi’s meetings with Australian business leaders underscore India’s commitment to attracting foreign investments and fostering partnerships for mutual growth and development. These collaborations align with India’s focus on technology, skilling, and clean energy, contributing to the country’s sustainable development goals.
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