Modi urges Australian firms to invest in India, $500M fund

Prime Minister Narendra Modi called on Australian businesses to deepen investment in India and urged for the swift conclusion of a comprehensive trade agreement during a series of economic events in Melbourne on Thursday. The appeal came as Modi and Australian Prime Minister Anthony Albanese participated in the Australia-India CEOs Forum and an Economic Roadmap Business Reception, aiming to expand bilateral cooperation beyond traditional trade into strategic sectors.

Addressing business leaders, senior executives, and representatives of major Australian superannuation funds, Modi outlined what he described as "historic opportunities" for collaboration. He emphasized India's unmatched growth potential across aviation, financial services, critical minerals, technology, food processing, and manufacturing. Modi specifically highlighted clean energy, civil nuclear power, artificial intelligence, semiconductors, infrastructure, and education as key areas for partnership.

The Prime Minister pointed to India's ambitious energy targets, including 500 gigawatts of renewable energy capacity by 2030 and a goal of 100 gigawatts of nuclear power by 2047, as areas where Australian technology,...