The Indian industry should cooperate more with the Australian one in sectors like technology, skilling, and clean energy, Prime Minister Narendra Modi said during a meeting with prominent Australian business executives on May 23, 2023. As the third and last stop of his three-nation tour, Modi arrived in Sydney on Monday. In Australia, he will meet with Anthony Albanese, the Australian Prime Minister, and attend a celebration of the vibrant, diversified Indian diaspora in Australia.Meetings with business leaders of AustraliaPM Modi had a meeting with the CEO of Fortescue Future Industries, an Australian company that specialises in green technologies and energy. John Andrew Henry Forrest AO, also known as Twiggy, is a famous Australian businessman. Apart from Fortescue Future Industries, he has other investments in the mining sector and in cattle ranches, although he is most known for serving as the former CEO of Fortescue Metals Group (FMG). Forrest was Australias richest person in 2008.In Sydney, Modi also had a meeting with the CEO of Australian Super Paul Schroder. On October 1, 2021, he was named Chief Executive of Australian Super. He is in charge of the funds leadership and growth strategy building. India is one of the top major economies in the world for foreign investment, said Schroder, who expressed the willingness of AustralianSuper to collaborate with India during their meeting.In one of the meetings, the Prime Minister emphasised Indias ambitious goals for renewable energy and the revolutionary changes and actions the country was doing, like the Green Hydrogen Mission. The Indian economy has grown at a strong rate, reaching roughly USD 3.5 trillion. In the twenty-five years to come, it is expected to reach USD 32 trillion. The future growth of India is likely to be enormous. Australia needs to put more effort into improving its ties with India, said Gina Rinehart, the Executive Chairman of Hancock Prospecting, noting that it has made many measures to draw in international investment by reducing permissions and restrictions.An interim free trade agreement was previously put into effect by both nations on December 29 of last year. This agreement is currently being expanded by the two countries into a Comprehensive Economic Cooperation Agreement (CECA). In 2022–2023, Australia will rank as Indias 13th-largest partner in commerce. While exports were valued at USD 6.95 billion, imports from the nation were USD 19 billion during the previous fiscal year. India is Australias top export market for goods like gold and chickpeas, as well as its second and third-largest markets for coal and copper ores and wool and lead.
