'PM Modi is impressive...' Australian entrepreneurs hail India growth story
During his interaction, Prime Minister Narendra Modi stressed upon promoting green partnerships, showcasing the investment potential of India and fostering collaboration in the mining and minerals sector.
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FollowAustralian entrepreneurs sounded buoyant about the India growth story under Prime Minister Narendra Modi and expressed interest in investing further in the country. Prime Minister Modi met leaders from Australian industry and investment firms in Sydney during which he pitched India as among the top investment destinations in the world.
PM Modi also invited Australian entrepreneurs to partner in India’s growth story. During his interaction, Prime Minister Narendra Modi stressed upon promoting green partnerships, showcasing the investment potential of India and fostering collaboration in the mining and minerals sector.
Australian entrepreneurs emerged more optimistic about doing business in India after meeting Prime Minister Modi.
'Australia really needs to work harder to develop its relations with India. Look at the investment that has flowed into India under PM Modi," said Georgina Hope Rinehart AO, Executive Chairman of Hancock Prospecting Group, Roy Hill and S Kidman & Co.
During his meeting with Rinehart, the prime minister highlighted the reforms and initiatives being undertaken in India and invited her to partner in technology, investment and skilling in the mining and minerals sector. Rinehart said that there are huge business opportunities between India and Australia.
Emerging from his conversation with PM Modi, Paul Schroder, Chief Executive of AustralianSuper said: "Prime Minister Narendra Modi is impressive, and he understands business. We have had a good experience investing in India."
In the meeting with Schroder, PM Modi said that India is one of the most preferred major economies for foreign investments in the world and invited AustralianSuper to partner with India. AustralianSuper is an Australian superannuation fund headquartered in Melbourne.
Another entrepreneur, Dr Andrew Forrest, Executive Chairman and Founder of Fortescue Metals Group and Fortescue Future Industries, termed 'Prime Minister Modi as a global champion on green energy...'
Forrest welcomed 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, it added.
Forrest briefed the Prime Minister on Fortescue Future Industries' plans and projects in India. Forrest said that he and the prime minister acknowledged that the fossil fuel sector has only limited time to run and it must be replaced with a fuel which causes no harm but can do everything which oil and gas can do.
India and Australia have already implemented an interim free trade agreement on December 29 last year. The two nations are now engaged in widening the scope of that agreement into a Comprehensive Economic Cooperation Agreement (CECA).
Australia is the 13th largest trading partner of India in 2022-23. While exports stood at $6.95 billion, imports from that country in the last fiscal aggregated at $19 billion. India is Australia's largest export market for gold and chickpeas, the second-largest market for coal and copper ores and the third-largest market for lead and wool.
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