“The world is reeling with uncertainty, supply chain disruption and energy crisis at the moment. At this time, India-Australia must move forward as natural and trusted partners,” Modi said while addressing business leaders and investors.
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Modi said bilateral trade ties had strengthened significantly in recent years, highlighting the growing economic relationship between the two countries.
“India’s exports from Australia have doubled and both nations have gotten access to new markets,” he said.
Pitching India as an attractive destination for global investment, the prime minister said the two countries had laid the foundation for greater collaboration.
India-Australia’s ‘runway’ of investments, innovation
“Both countries have prepared a new runway to make investments and innovation’s ‘airplane’ fly,” Modi said.
The government has committed substantial financial support to emerging sectors in a bid to make India a global technology and manufacturing hub, he added.
“Under AI mission, quantum mission and semiconductor mission, Indian govt has earmarked more than $10 billion in support. We aspire to build global solutions in this changing era of technology,” the Prime Minister said.
Addressing foreign investors, Modi spoke on India’s commitment to safeguarding investments, saying, “Pension is considered ‘sacred’ in India, we call it the trust of crores of Indians. Similarly, India gives you a chance to keep your funds secure with us.”
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He also highlighted India’s clean energy ambitions, saying, “We are preparing an ecosystem to help build clean energy sources.”
Modi said India has opened its nuclear sector to private players through the SHANTI Act, while reiterating the government’s infrastructure push.
“Scale, speed and stability are three principles India is building its infrastructure on,” he said.