'Come, invest in India ': PM Modi to Australian CEOs

Prime Minister Narendra Modi has urged the CEOs of leading Australian businesses to take advantage of the investment possibilities provided by India's booming economy.

Speaking at a business roundtable in Sydney on May 24, 2023, he invited the attending CEOs to explore the investment opportunities offered by India across various sectors including infrastructure, including digital infrastructure, IT, fintech, telecom, semiconductors, space technology, renewable energy (particularly green hydrogen), education, pharmaceuticals, healthcare (including medical device manufacturing), mining (including critical minerals), textiles, agriculture, and food processing.

CEOs from a variety of industries, including steel, finance, energy, mining, and IT, among others, took part in it. Notably, the vice-chancellors from prestigious Australian institutions were also present during the meeting.

During his address, PM Modi highlighted the extensive economic reforms and initiatives implemented by the Indian government to enhance the ease of doing business and accelerate economic growth. Among the notable initiatives he mentioned were Mission Gati Shakti, which emphasizes an integrated approach to infrastructure connectivity projects, and the Jan Dhan-Aadhar-Mobile trinity, a comprehensive system encompassing financial inclusion, identification, and mobile technology.

PM Modi also stressed the significance of the National Education Policy, the Hydrogen Mission 2050, the Production-Linked Incentive (PLI) scheme, and recent policies facilitating private investments in the space and geospatial sectors, medical devices manufacturing, and the Ayushman Bharat health insurance scheme.

Recognizing the potential for mutually beneficial partnerships between businesses, PM Modi called upon the CEOs to undertake collaborations with their Indian counterparts. He emphasized that India's dynamic and rapidly growing economy, combined with its extensive market and skilled workforce, offers a conducive environment for companies seeking to expand their operations and tap into new markets.

PM Modi reaffirmed India's commitment to providing a supportive business ecosystem and a level playing field for both domestic and foreign investors. He also expressed confidence that stronger partnerships between India and Australia would contribute to the growth and development of both nations and foster an environment of shared prosperity.

The CEOs, who were present at the roundtable meeting, expressed their appreciation for the Indian government's commitment to economic reforms and their interest in exploring business prospects in India. They also recognized the country's immense potential as an investment destination and its role as a hub for innovation and entrepreneurship.