Investments: PM invites Australian CEOs to participate in development of Indian industries

Indian economic reforms update given at Australian Roundtable

Prime Minister Narendra Modi has invited CEOs of Australian companies to invest in Indian domains of infrastructure including digital infrastructure, IT, fintech, telecom, semiconductors, space, renewable energy including green hydrogen, education, pharma, healthcare including medical devices manufacturing, mining including critical minerals, textile, agriculture & food processing.

He highlighted the potential of investing in India at a Business Roundtable with the CEOs in Sydney on 24 May 2023.

The participating CEOs represented leading companies operating across a diverse range of sectors including steel, banking, energy, mining and IT, among others.

Vice Chancellors from some of the leading Universities of Australia also participated in the Roundtable.

The Prime Minister elaborated on the country’s numerous economic reforms and initiatives launched by the government for ease of doing business and boosting economic growth.

These include, Mission Gati Shakti for integrated approach towards infrastructure connectivity projects; Jan Dhan-Aadhar-Mobile trinity; National Education Policy; Hydrogen Mission 2050; PLI scheme; opening of private investment in domain of space and geospatial sector; new policy of medical devices manufacturing; Ayushman Bharat health insurance scheme, etc.

Modi encouraged the CEOs to forge mutually beneficial partnerships with their Indian counterparts.

The CEOs that participated in the Roundtable are as under:

Commonwealth Bank of Australia – Matt Comyn, President and CEO

Rio Tinto – Kellie Parker, CEO

National Australia Bank – Philip Chronican, Chairman and Non-Executive Director

Australian Industry Bank – Innes Willox, CEO

BHP – Geraldine Slattery, President Australia

Atlassian – Scott Farquhar, Co-CEO and Co-Founder

University of Sydney – Prof. Mark Scott AO, Vice-Chancellor & President

Orica – Sanjeev Gandhi, Managing Director and CEO

Cochlear – Dig Howitt, Chair

Business Council of Australia – Jennifer Westacott, CEO