India-Australia business ties have entered “execution phase”, industry expecting concrete deals and investments

Melbourne : Business leaders from India and Australia on Thursday said the two countries are moving beyond discussions towards deeper business collaboration, with opportunities emerging across sectors such as critical minerals, clean energy, infrastructure, defence and the digital economy following the Australia-India CEOs Forum.
Speaking to news agency the event, Australia India Business Council National Chair Deepak Raj Gupta said the relationship between the two countries has entered a new phase.
“It’s a testament that the Australia-India relationship has really matured now. I think rather than being in a discussion phase, we are coming into an execution phase. The testament to that was that the areas which both Prime Ministers addressed to the gathering here testify that these are the fields where India and Australia can really excel. I think this will now result in business outcomes and continuity for the future as well,” Gupta said.
Sanjiv Goenka Group Vice Chairman Shashwat Goenka said the discussions at the forum highlighted significant opportunities for businesses from both countries to work together across several sectors.
“In today’s meeting, multiple sectors were discussed where both countries can come together and work together to create new benchmarks for the world to see. Between India and Australia there are many sectors where they can work together, this ranges from education and skilling to green energy, renewable energy, critical minerals, digital economy, banking infrastructure and public infrastructure. There is immense potential for both countries to come together, not just to share learnings, but more importantly, to collaborate on the business opportunities that each of these sectors represents,” he said.
FICCI Representative Australia Molina Asthana (GAICD) said both countries should now focus on implementing ideas that have been discussed over the years and expand cooperation into newer sectors.
“So, there are so many interesting and new areas for collaboration beyond what we used to speak about–the cricket, Commonwealth, and curry. Critical things like infrastructure, critical minerals, defence, aerospace, and also sport and community connections,” she said.
Earlier in the day, Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business event in Melbourne. According to the Prime Minister’s Office, Modi highlighted opportunities for greater collaboration in manufacturing, clean energy, critical minerals, infrastructure, artificial intelligence, fintech and the digital economy, while calling for an early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen trade and investment ties between the two countries.