Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese exchange a handshake, in Melbourne on Thursday.
| Photo Credit:
Narendra Modi Photo Gallery/ANI Photo
Australia will send a senior business delegation to India during Australia Week in December and convene a new investment roundtable in Mumbai as part of a renewed push to deepen economic engagement with one of the world’s fastest-growing major economies, Prime Minister Anthony Albanese announced on Thursday.The delegation will be led by the Business Council of Australia, while Austrade and the Australian High Commission in New Delhi will organise the Mumbai investment roundtable to encourage greater two-way investment.“I welcome the announcement we have had this morning from Australian Super that they will invest an additional $500 million into India’s National Investment and Infrastructure Fund. This is about building on and broadening out the four key priorities in our roadmap: clean energy, education and skills, agribusiness, and tourism. In every one of those sectors, new work to deepen our engagement is already underway,” Albanese said in his speech at the Australia-India economic roadmap business reception on Thursday.Prime Minister Narendra Modi, who is on an official visit to Australia as part of his three-nation tour, attended as the guest of honour.Addressing business leaders, Albanese said the relationship between the two countries had undergone a significant transformation over the past decade.“For all the natural affinity of our histories and cultures, for all broad affection between our peoples, the relationship between our countries was underdone, under-explored and under-examined. In the last decade or so, that has certainly changed for the better,” he said, crediting Modi’s leadership and the role of business leaders in strengthening bilateral ties.Calling the Indian diaspora the “living bridge” between the two countries, Albanese said India’s emergence as the world’s fastest-growing major economy and its trajectory to become the third-largest economy by the end of the decade presented enormous opportunities for Australian businesses. He said Australia wanted its businesses, technology and expertise to contribute to India’s growth.Highlighting growing education ties, Albanese noted that Australia now has approval for eight university branch campuses in India after Deakin University became the first foreign university to establish a campus in the country. He also welcomed Monash University’s announcement of a $75 million investment to expand cooperation with India, including scholarships for Indian students and exchange programmes for Australians.In agribusiness, Albanese cited Perdaman’s Project Ceres urea manufacturing facility in Karratha as an example of successful collaboration. The project, which uses Indian technology and machinery, is expected to become Australia’s largest urea plant with annual production of about 2.3 million tonnes. “I am pleased to announce that my government has awarded Project Ceres Major Project status, helping facilitate the development of the facility and building on almost $750 million in support provided through loans from Export Finance Australia and the Northern Australia Infrastructure Facility,” the Australian PM said.This is one of countless examples, big and small, of Australian-Indian companies contributing to the growth and success of both our nations, he added.Published on July 9, 2026
