Chief Executive Officer of Australia and New Zealand Banking Group Limited (ANZ), Nuno Matos, on Thursday declared India as "one of the most powerful nations in the world," citing its sweeping economic reforms, technological transformation, and sustained high growth. Speaking to ANI on the sidelines of the Australia CEO Forum on Clean Energy and Nuclear Partnerships in Melbourne, Matos underscored India's emergence as a major global economic force that continues to draw strong international interest.
India's Economic Reforms and Growth Trajectory
Matos highlighted that India has implemented a wide array of reforms, positioning itself as a strong and performing nation. "In India, it's a very strong nation at this point in time. India has done a lot of reforms. It's performing very well, and it's transforming its business for the future based on technology, on renewables, on other sectors like EVs. So India clearly is attracting a lot of attention from the rest of the world," he said. He added that India has maintained one of the fastest growth rates among major economies, with nearly 8% growth over the last five years, making it the leading nation in terms of growth among the G20 nations. "It's a clear and unstoppable reality, and I think India is now, if you want, one of the most powerful nations in the world," Matos stated.
Landmark India-Australia Nuclear Energy Agreement
Earlier on the same day, India and Australia signed a historic nuclear energy agreement, marking a monumental chapter in bilateral relations. Under the pact, Australia will supply uranium to fuel India's civil nuclear program. The agreement was announced during a joint press conference by Indian Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese in Melbourne. PM Modi described the atomic breakthrough as a transformative catalyst for India's clean energy goals. "Australia will supply uranium to India. We have signed an important agreement in the field of nuclear energy. It will give new momentum to our clean energy goals," he declared. The agreement builds on the 2015 Australia-India Nuclear Cooperation Agreement, with Albanese confirming the arrangement enables uranium exports to India for peaceful purposes.
Strategic Partnership and Critical Minerals Corridor
PM Modi framed the deepening ties within a shared geopolitical vision, noting that both nations, as "two vibrant democracies, multicultural societies and important ocean powers," share a common worldview that continues to strengthen their Comprehensive Strategic Partnership. He further noted that the third Annual Summit had added new dimensions to bilateral ties. Additionally, Modi announced that India and Australia would collaborate on a Critical Minerals Corridor to strengthen resilient supply chains and support the clean energy transition. These high-level frameworks come at a defining moment as both countries seek to bolster cooperation in clean energy, critical minerals, defence, technology, and Indo-Pacific security, reaffirming their commitment to a stable, secure, and prosperous region.
