Prime Minister Narendra Modi on Thursday, 9 July called India and Australia 'natural and trusted partners' at the India-Australia CEO Forum in Melbourne, urging business leaders from both nations to deepen collaboration across clean energy, infrastructure, artificial intelligence, and education amid what he described as a period of global uncertainty and supply chain disruption.

Setting the Stage: A Partnership Built on ECTA

Addressing the Economic Roadmap Business Reception, Modi pointed to the India-Australia Economic Cooperation and Trade Agreement (ECTA), concluded in 2022, as a foundational milestone. 'Since its implementation, exports from India to Australia have doubled, and businesses in both countries have benefited from new market access,' he said. The two sides are now reportedly advancing negotiations toward a Comprehensive Economic Cooperation Agreement (CECA), signalling ambitions well beyond the initial trade pact.

Clean Energy and Nuclear: Where Resources Meet Ambition

Modi highlighted India's target of 500 gigawatts of renewable energy capacity by 2030 and Net Zero emissions by 2070, describing Australia's technological expertise, financial resources, and natural reserves as critical enablers. 'We are building a manufacturing ecosystem in India for hydro projects, green hydrogen, solar modules, and windmills,' he told clean energy executives at the forum.

In a notable policy reference, Modi said India had recently opened its nuclear sector to private companies and set a target of 100 gigawatts of nuclear energy by 2047. He directly linked Australia's uranium reserves to India's nuclear ambitions, framing the two countries' resource complementarity as a strategic advantage.

Infrastructure at Scale: The Investment Case

The Prime Minister invited Australian long-term investors — particularly large pension funds — to participate in India's infrastructure expansion. He cited specific metrics to underscore the pace: national highways are being built at roughly 34 kilometres per day, while more than 8 kilometres of railway track are being laid daily. 'This represents a convergence of scale, speed, and stability,' he said.

Addressing the managers of Australia's pension sector — which he noted oversees assets worth more than $4 trillion — Modi offered an assurance: 'India offers your funds opportunities for safe, stable, and sustainable growth. Our endeavour will be to ensure that both your trust and your capital grow.'

Technology, Education, and the Next Frontier

On emerging technologies, Modi said the Indian government has committed more than $10 billion toward its AI Mission, Quantum Mission, and Semiconductor Programme, and called for joint development of data centres, quantum technology, and digital public infrastructure. He also pointed to the presence of Deakin University and the University of Wollongong at GIFT City in Gujarat as evidence of growing educational ties, urging both sides to convert student mobility into structured talent partnerships.

What Comes Next

Concluding his address, Modi proposed moving beyond capital-to-capital engagement toward specific state-to-state and sector-to-sector partnerships, involving cities, universities, and industries across both countries. The push comes as India seeks to diversify its strategic economic relationships and as Australia recalibrates its own Indo-Pacific posture. Whether the ambitions outlined in Melbourne translate into binding agreements will depend on the pace of CECA negotiations and the appetite of Australian institutional investors for India's infrastructure pipeline.