Tourism Australia Managing Director Robin Mack has lauded Prime Minister Narendra Modi's visit to Australia, describing the partnership and collaboration between the two nations as "fantastic" and expressing optimism about future growth in tourism and economic exchange.
Tourism Growth and Collaboration
Speaking at the Australia CEO Forum on Clean Energy and Nuclear Partnerships in Melbourne, Mack said: "It's been fantastic to be here today and see the partnership and collaboration between India and Australia. From a tourism perspective, we're so excited about the future growth of tourism between India and Australia. We've had such growth from India over the last decade. It's been growing at 10% every year, and we're optimistic about the future growth of tourism. I think the spotlight this visit puts on the collaboration and the partnership between the two countries in terms of tourism opportunities is fantastic."
Economic Synergies and Geopolitical Context
Pinnacle Advisors Founder Vidhi Ashik Mody echoed these sentiments, emphasizing the deep macroeconomic synergies between the two democracies. She noted that enhanced cooperation is critical for securing the broader Indo-Pacific region amid evolving global dynamics. Mody said: "One of the key takeaways is how he highlighted how India and Australia both can benefit. It's a very complementary economy, I would say, and I think once we collaborate, there is huge potential for the Indo-Pacific region to become really strong. With the geopolitical issues happening, this is the right moment to tap into all of that. I think the visit has happened at the right time, so I am glad to be a part of it."
PM Modi's Address at India-Australia CEO Forum
Addressing the joint forum and the Economic Roadmap Business Reception alongside Australian Prime Minister Anthony Albanese, PM Modi projected India as a secure and dependable long-term investment destination. He urged global corporations to deepen economic engagement across trade, infrastructure, clean energy, and emerging technology sectors.
PM Modi highlighted that the global economy is navigating a challenging phase, making a stronger partnership between New Delhi and Canberra essential. He said: "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 built a robust framework for our future partnership, leveraging the strengths of both nations. The ECTA agreement, concluded in record time in 2022, has further strengthened our economic ties. Since its implementation, exports from India to Australia have doubled, and businesses in both countries have benefited from new market access."
Trade Milestones and Investment
PM Modi called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further fortify bilateral economic ties. The visit also marked a major financial milestone: AustralianSuper, Australia's largest pension fund with 410 billion Australian dollars in assets, announced an additional 500 million Australian dollars (approximately 346 million US dollars) investment into India's National Investment and Infrastructure Fund (NIIF).
PM Modi welcomed the announcement on social media platform X: "India welcomes the AU$500 million investment from AustralianSuper, announced by their Chief Executive, Paul Schroder, this morning in Melbourne. This is yet another glimpse of the global confidence in India's growth and reform trajectory. It also reflects the immense opportunities that our dynamic economy offers global investors." This fresh infusion builds on a 240 million Australian dollar commitment made seven years ago, bringing AustralianSuper's total investment portfolio in India to 3.3 billion Australian dollars across infrastructure, equities, and private market assets.
Clean Energy and Infrastructure Opportunities
PM Modi detailed India's ambitious renewable energy targets, inviting Australian technology, capital, and resources to accelerate the green transition. He stated: "Many companies associated with clean energy are present here. We are building a manufacturing ecosystem in India for hydro projects, green hydrogen, solar modules, and wind turbines. India has set a target of achieving 500 gigawatts of renewable energy capacity by 2030 and reaching net zero emissions by 2070. Australia's technology, capital, and resources can accelerate this transition. We have set a target of 100 gigawatts of nuclear energy capacity by 2047. Australia's vast uranium reserves align directly with India's nuclear journey. There are immense possibilities for Australian long-term investors in India's port, airport, road, railway, and urban infrastructure sectors."
Higher Education and Skill Development
The Prime Minister also welcomed the growing footprint of Australian universities in India, noting that greater cooperation in higher education, research, innovation, and skill development would foster global competitiveness and prepare talent across both democracies.
Outcome and Future Prospects
Reviewing the high-level engagement on X, PM Modi shared that the Australia-India CEO Forum has gained significant momentum since 2023, reflecting deep institutional confidence. He expressed gratitude to Prime Minister Albanese for participating and sharing his vision to elevate economic ties. PM Modi is currently on a three-nation visit to Indonesia, Australia, and New Zealand.
