PM Modi Meets Australian Business Leaders With an Aim to Invite Investments in India

Prime Minister Narendra Modi, on May 23, had a discussion with business leaders of top Australian companies in Sydney, as he called for enhancing cooperation with the Indian industry in areas such as technology, skilling, and clean energy. The Indian PM is in Sydney for the third and final leg of his three-nation tour.

He will not only hold talks with his Australian counterpart, Anthony Albanese, but will also attend a community event to celebrate the Indian diaspora.

Meanwhile, he held bilateral meetings with Hancock Prospecting Executive Chairman Gina Rinehart, Fortescue Future Industry Executive Chairman Andrew Forrest, and AustraliaSuper CEO Paul Schroder.

With PM Modi’s meeting with Rinehart, the former looked at reforms and initiatives being taken in India and invited her to partner in technology, investment, and skilling in the mining and minerals sector. She acknowledged that there are huge business opportunities between India and Australia.

"Growth in the future is going to be huge…Australia really needs to work harder to develop its relations with India," she said, adding India has taken several measures to attract foreign investments.

With Schroder, PM Modi discussed how India is one of the most major economies for foreign investments in the world, thereby inviting AustralianSuper to partner with India. Schroder too mentioned that Australian super does invest in India. "We have had a very good experience in investing in India," he said.

In his meeting with Forrest, PM Modi talked about the group’s plans to work with Indian companies in the field of green hydrogen.

"Emphasising India’s ambitious renewable energy plans, the Prime Minister highlighted the transformative reforms and initiatives being taken by India, such as the Green Hydrogen Mission," the official statement added. Forrest informed the Prime Minister of Fortescue Future Industries’ plans and projects in India.

Between April 2000 and December 2022, India did get USD 1.07 billion in investments from Australia.