PM Narendra Modi’s Major Statement: ‘India-Australia Partnership Crucial Amidst Global Crisis’

Melbourne. After visiting Indonesia, Prime Minister Narendra Modi arrived in Australia on Wednesday and met with Australian PM Anthony Albanese in Melbourne on Thursday. Subsequently, he participated in the India-Australia CEO Forum, where he addressed top business leaders from both nations and outlined India’s ambitious energy and infrastructure goals. From this global platform, PM Modi extended an open invitation for Australia’s vast uranium reserves, advanced technology, and pension funds—valued at over $4 trillion—to directly integrate with India’s growth journey.

The PM noted that the world is currently navigating a period marked by uncertainty, supply chain disruptions, and an energy crisis. In such times, it is both natural and essential for India and Australia to move forward as natural and trusted partners. Over the past few years, we have leveraged the strengths of both nations to build a robust framework for our future partnership. The Economic Cooperation and Trade Agreement (ECTA), concluded in record time in 2022, has further strengthened our economic ties. Since its implementation, India’s exports to Australia have doubled, and businesses in both countries have benefited from access to new markets.

He highlighted the presence of numerous clean energy companies at the forum. We are establishing a manufacturing ecosystem in India for hydro projects, green hydrogen, solar modules, and wind turbines. India has set targets to achieve 500 gigawatts of renewable energy capacity by 2030 and reach net-zero emissions by 2070. Australia’s technology, capital, and resources can accelerate this transition… We have also set a target of achieving 100 gigawatts of nuclear energy capacity by 2047. *Nuclear Sector Opened to Private Companies*
Speaking from the stage, PM Modi noted that a few months ago, the Government of India enacted historic legislation to fully open the nuclear sector to domestic private companies. Consequently, Australia’s vast uranium reserves align directly with India’s nuclear journey, creating a historic opportunity for both nations to enhance cooperation in this sector.

Speed ​​and Scale in Infrastructure
Discussing domestic infrastructure development, the Prime Minister highlighted the immense potential for Australian long-term investors in India’s ports, airports, roads, railways, and urban infrastructure. Today, national highways in India are expanding at a record pace of approximately 34 kilometers per day. Simultaneously, over 18 kilometers of new railway tracks are being laid daily—a remarkable convergence of scale, speed, and stability.

India Ranks Second Globally in Crude Steel Production
The two nations have long been strong partners in the steel sector. India has now emerged as the world’s second-largest producer of crude steel. According to PM Modi, the two countries can now collaborate on low-carbon aluminum, green iron, and clean manufacturing.

Furthermore, the Government of India has provided financial support exceeding $10 billion under the AI ​​Mission, Quantum Mission, and Semiconductor Program to facilitate the joint development of global solutions.

Investment in India: A Sacred Trust
Wooing Australian financial institutions, the Prime Minister pointed out that Australian pension funds currently manage assets worth over $4 trillion. He assured them that pension savings of the general public are regarded as a sacred trust in India. Investors can, therefore, step forward with complete confidence to collaborate with India on world-class solutions in sectors such as data centers, AI, quantum technology, semiconductors, and digital public infrastructure.