PM Modi invites Australian businesses to invest in India, seeks early conclusion of CECA

Prime Minister Narendra Modi on Thursday (July 9, 2026) touted India as a long-term investment destination for Australian businesses and called for the early conclusion of the proposed bilateral Comprehensive Economic Cooperation Agreement (CECA).

Read also | Modi begins three-country trip, starting with Indonesia to strengthen strategic ties

Mr. Modi made the remarks at the Australia-India CEO Forum and Economic Roadmap Business event in Melbourne, which he delivered jointly with his Australian counterpart, Anthony Albanese.

The events were attended by prominent Indian and Australian CEOs and business leaders, according to India’s Ministry of External Affairs (MEA).

In an article on Mr Modi said they discussed opportunities in sectors such as aviation, transport and logistics, financial services, critical minerals, technology, food processing, food security and skills.

“India offers unparalleled opportunities for growth and innovation. I have invited businesses to invest and innovate in India,” he said.

Addressing the Forum, Mr Modi said “India’s strong economic growth, policy reforms, digital transformation and expanding innovation ecosystem were creating new business opportunities for Australian partners”, the MEA said in a statement.

He also highlighted the complementarities between the Indian and Australian economies and highlighted the “vast opportunities” available in India across various sectors, including manufacturing, clean energy, critical minerals, mining, infrastructure, artificial intelligence, fintech and the digital economy.

Mr Modi said India’s size and Australian expertise is a “win-win proposition” and urged Australian investors to take advantage of long-term investment opportunities in India.

“He welcomed the growing presence of Australian universities in India and highlighted that deeper collaboration in higher education, research, innovation and skills development would not only prepare the talents of both countries for the future, but also help them exploit global opportunities,” the MEA said.

At the Economic Roadmap trade event, Mr Modi highlighted the “natural synergies” between India and Australia and encouraged companies to work together in sectors such as critical minerals, semiconductors, artificial intelligence, electric vehicles and defence, the MEA said in an article on X.

The event brought together more than 200 CEOs and business leaders from both sides.

Mr. Modi highlighted that “shared democratic values, a common vision of the Indo-Pacific, dynamic people-to-people ties and strong political understanding have created fertile ground for the trade partnership between the two countries to grow and prosper together,” the statement said.

Mr. Modi urged business leaders to leverage the complementary strengths of both sides and create global solutions, including in the areas of rare earths, lithium, batteries, electronics, electric vehicles, semiconductors, AI and defense supply chains.

He also expressed satisfaction over the growth of trade and investment ties based on the Economic and Commercial Cooperation Agreement (ECTA) 2022 and called for an early conclusion of the proposed CECA to propel trade ties to a new level, the MEA said.

Mr Modi said that for bilateral trade relations to reach a higher level, it was important for Indian states and Australian provinces to forge “dynamic economic partnerships based on their core competencies”.

India and Australia are actively negotiating a CECA to build on the founding ECTA.

Australia is India’s 14th largest trading partner, with bilateral trade in goods and services valued at $24.1 billion in 2025-26.

Mr. Modi arrived in Australia on Wednesday for the second leg of his three-country tour. He was previously in Indonesia and will travel to New Zealand for the final leg of his visit.

Published – July 9, 2026 at 08:41 IST