|
Chief Executive of the Business Council of Australia, Bran Black, on Thursday (local time) highlighted Prime Minister Narendra Modi's longstanding emphasis on strengthening ties with Australia, recalling an anecdote that underscored the Indian leader's early interest in deepening bilateral engagement.
Speaking to ANI, in response to the India-Australia CEO Forum and Economic Roadmap Business Reception in Melbourne, Black said, "When Prime Minister Modi first became Prime Minister, he was briefed on the countries that India engages with and the opportunities for India to engage further. At the end of the meeting, I'm told that he said, 'Where's Australia? What about Australia?' And that is a lovely reflection on the priority that Prime Minister Modi places on this relationship." Black also praised India's economic transformation and the expanding opportunities for Australian businesses, pointing to the rapid growth of India's middle class. "What I am particularly delighted to see is that the projections are that the size of the Indian middle class will increase to 600 million people by 2035. What that signals to me and the world is that these reform efforts are having tangible impacts on people's lives every day," he said. Highlighting growing investment cooperation between the two countries, Black welcomed AustralianSuper's announcement of an AUD 500 million investment in India's National Infrastructure Fund. "We saw that AustralianSuper today committed to $500 million towards the National Infrastructure Fund in India. That's terrific. A partnership that's ultimately reflective of our strong person-to-person links. We are strong democracies. We have complementarities in terms of our economic strengths, and it makes sense for us," he added. Earlier, PM Modi welcomed a massive capital commitment from AustralianSuper, Australia's largest pension fund, managing over 410 billion Australian dollars in assets. Prime Minister Narendra Modi noted that the investment reflects the burgeoning global confidence in India's economic path and the vast potential of its domestic market. In a post on X, PM Modi shared, "India welcomes the AU$500 million investment from AustralianSuper, announced by their Chief Executive, Mr. 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." The Prime Minister's remarks on X followed his address at the India-Australia CEO Forum and Economic Roadmap Business Reception during his visit to the nation. Pitching India as a secure and dependable long-term investment destination, PM Modi spotlighted the expanding economic synergy between the two democracies and welcomed pension giants to participate in India's long-term growth trajectory by scaling up their footprints. "Australian pension funds currently manage assets exceeding four trillion dollars. In India, pension savings are regarded as a sacred trust... 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. There is a natural synergy between the two nations in the realms of education and skills... Our shared goal should be to transform student mobility into talent partnerships," PM Modi stated at the forum. (ANI)
|
