PM Modi invites Australian CEOs for investment opportunities in India
While addressing a business roundtable with CEOs of top Australian companies in Sydney, PM Modi invited them to take advantage of investment opportunities offered by India in various infrastructure domains.
Parul May 25, 2023
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PM Narendra Modi addressed a business roundtable with CEOs of top Australian companies in Sydney on Wednesday and invited them to take advantage of investment opportunities offered by India in various infrastructure domains.
The participating CEOs represented leading companies operating across a diverse range of sectors including steel, banking, energy, mining and IT, among others.
They included Commonwealth Bank of Australia President and CEO Matt Comyn, Rio Tinto CEO Kellie Parker, National Australia Bank Chairman and Non-Executive Director Philip Chronican, Australian Industry Bank CEO Innes Willox, BHP President Australia Geraldine Slattery and Cochlear Chair Dig Howitt.
PM Modi highlighted numerous economic reforms and initiatives launched by the government for ease of doing business and boosting economic growth, including, Mission Gati Shakti, Jan DhanAadhar-Mobile Trinity; National Education Policy; Hydrogen Mission 2050; PLI scheme; the opening of private investment in the domain of space and geospatial sector; new policy of medical devices manufacturing; and Ayushman Bharat health insurance scheme.
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“Prime Minister invited the CEOs to take advantage of investment opportunities offered by India in domains of infrastructure including digital infrastructure, IT, fintech, telecom, semiconductors, space, renewable energy including green hydrogen, education, pharma, healthcare including medical devices manufacturing, mining including critical minerals, textile, agriculture and food processing,” a PMO release said.
The Prime Minister encouraged the CEOs to forge mutually beneficial partnerships with their Indian counterparts. Chief Executive of Universities Australia, Catriona Jackson said the relationship between Australia and India is entering a golden era.
“It was an incredible privilege to have PM Modi with us today. The relationship between Australia and India is entering a golden era. But it is the pinnacle to have the PM with us today and listening so carefully to what all the CEOs were saying. It was just terrific…,” Jackson said.
Jennifer Westacott, CEO of the Business Council of Australia, said they discussed practical ways to make use of opportunities. “The meeting was really excellent. What was discussed was the incredible opportunities that exist between Australia and India and some practical ways that we might take that forward, particularly in areas such as clean energy, telecommunications, the whole opportunity around semiconductors, digital economy and agribusiness,” Westacott said.
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CEO-founder of WiseTech Global Richard White said, “It was fantastic. Actually, I think there is an enormous future between Australia and India. The PM was very gracious and incredibly able to understand what we were talking about and reach out and give us confidence that there’s a strong future relationship between Australia and India.”
CEO of Recharge Industries, Rob Fitzpatrick said “PM Modi is so important in the globe’s energy transition. He is already on the front foot.”