Prime Minister Narendra Modi on Wednesday outlined an ambitious vision for the future of India-Australia relations, urging businesses to drive the next phase of cooperation beyond trade and into strategic sectors such as clean energy, civil nuclear power, critical minerals, artificial intelligence, semiconductors, infrastructure and education.
Addressing the Economic Roadmap Business Reception in Melbourne, alongside Australian Prime Minister Anthony Albanese and business leaders from both countries, Modi described India and Australia as "natural and trusted partners" at a time of global uncertainty, supply chain disruptions and energy insecurity.
He said the gathering reflected the shared confidence and growing ambitions of both nations.
#WATCH | Melbourne, Australia: Prime Minister Narendra Modi says, "Our partnership should not be limited merely to our respective capitals or a few select cities; we need to engage stakeholders across our states, cities of all sizes, universities, and industries... I suggest… pic.twitter.com/ssFmOOUEAi
— ANI (@ANI) July 9, 2026
From trade agreement to strategic partnership
Highlighting the progress made since the signing of the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, Modi said bilateral economic ties had expanded significantly, opening new opportunities for businesses on both sides.
However, he stressed that the partnership must now evolve beyond trade.
Describing the next stage of cooperation as a "runway of investment and innovation", Modi urged businesses to seize emerging opportunities in manufacturing, technology and infrastructure to elevate the relationship.
Clean energy and nuclear cooperation take centre stage
A significant portion of Modi's address focused on clean energy cooperation.
Reaffirming India's climate goals, he said the country aims to achieve 500 GW of renewable energy capacity by 2030 and reach net-zero emissions by 2070. India is rapidly expanding investments in solar manufacturing, green hydrogen, hydropower and clean industrial production, he noted, adding that Australian technology, capital and natural resources could play an important role in accelerating this transition.
The Prime Minister also highlighted civil nuclear energy as a major avenue for future cooperation.
Noting that India has opened its nuclear sector to private participation and set a target of generating 100 GW of nuclear power by 2047, Modi said Australia's vast uranium reserves could contribute significantly to India's long-term energy security while supporting its decarbonisation objectives.
Infrastructure offers major investment opportunities
Modi showcased India's infrastructure transformation as one of the world's largest investment opportunities.
He pointed to ongoing expansion across highways, railways, ports, airports and urban infrastructure, noting that India is constructing around 34 kilometres of highways and over eight kilometres of railway lines every day.
Summing up India's investment proposition in three words — "scale, speed and stability" — he encouraged Australian pension funds, infrastructure companies and institutional investors to expand their long-term investments in the country.
Critical minerals and green manufacturing
The Prime Minister also called for closer collaboration in clean industrial supply chains.
He said India, now the world's second-largest steel producer, is keen to work with Australia on green steel, low-carbon aluminium, green iron and sustainable industrial manufacturing.
With Australia possessing abundant critical minerals and renewable energy resources, and India offering manufacturing scale and growing domestic demand, Modi said the two countries are well positioned to build resilient supply chains for the Indo-Pacific.
Expanding cooperation in AI and semiconductors
Technology emerged as another key pillar of Modi's address.
He highlighted India's AI Mission, Quantum Mission, semiconductor programme and digital public infrastructure initiatives, describing them as areas where India and Australia could jointly develop next-generation technologies.
Modi said collaboration between India's manufacturing ecosystem and Australia's strengths in research, higher education, innovation and medical technology could create globally competitive solutions in advanced technology sectors.
Australian investment in India's growth story
Modi also acknowledged the growing role of Australian superannuation funds in India's economic development.
He said billions of dollars invested by Australian pension funds have contributed to India's long-term growth and encouraged greater participation by global institutional investors in sectors including infrastructure, logistics, clean energy and technology.
Education and talent mobility
Education continues to remain one of the strongest pillars of bilateral ties, Modi said.
Highlighting Australian universities such as Deakin University and University of Wollongong, which have established campuses in India, he said the relationship should evolve from student mobility into a broader partnership encompassing skills development, research, innovation and workforce collaboration.
Modi also called for greater engagement between Indian states and Australian regions, arguing that the relationship should extend beyond cooperation between national governments.
He suggested linking Western Australia's critical mineral resources with manufacturing hubs in Odisha and Gujarat, while promoting collaboration between South Australia, Tasmania and Indian states in renewable energy and food processing.
He also identified opportunities for New South Wales and Victoria to deepen partnerships with Maharashtra, Karnataka and Telangana in finance, education, healthcare, medical technology and innovation.
Concluding his address, Modi presented India as a long-term destination for Australian investment and innovation, urging businesses from both countries to translate shared ambitions into concrete outcomes.
"The runway of investment and innovation is ready," he said, calling on industry leaders to help take the India-Australia partnership to new heights.
