Prime Minister Narendra Modi has called for stronger ties between India and Australia as the world faces growing uncertainty, supply chain disruptions and an energy crisis amid the ongoing conflict in West Asia. Addressing the India-Australia CEOs Forum on Thursday, PM Modi said the two countries should move forward as natural and trusted partners by building on their economic strengths and expanding cooperation across key sectors.

PM Modi said the current global environment had made closer cooperation between India and Australia increasingly important. He noted that the two countries had developed a strong framework for their future partnership over the past few years. The prime minister said both nations could use their respective strengths to address global challenges, strengthen supply chains and create new opportunities for businesses and investors.

Highlighting growing trade ties, PM Modi pointed to the India-Australia Economic Cooperation and Trade Agreement, which was concluded in 2022. He said the agreement had strengthened economic relations between the two countries and created new market access for businesses. According to PM Modi, Indian exports to Australia have doubled since the agreement came into effect, while companies in both countries have benefited from expanded commercial opportunities.

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PM Modi also called for greater state-to-state and sector-to-sector cooperation, saying the bilateral partnership should not remain limited to national capitals or a few major cities. He urged greater engagement among states, smaller cities, universities and industries in both countries. PM Modi suggested identifying specific partnerships between regions and sectors and developing focused strategies to take them forward.

The prime minister said India remained committed to taking its business partnership with Australia to new heights and expressed confidence that discussions at the CEOs Forum would generate fresh ideas, partnerships and commitments. PM Modi’s remarks came as concerns over the West Asia crisis and risks to shipping through the Strait of Hormuz have raised fears of further disruptions to global energy supplies, trade routes and international supply chains.

PM Modi is in Australia as part of a six-day, three-nation tour of Indonesia, Australia and New Zealand that began on July 6. During the visit, he is scheduled to hold talks with Australian Prime Minister Anthony Albanese, engage with business leaders and interact with members of the Indian diaspora. The wider tour is focused on strengthening trade and investment, deepening strategic partnerships and expanding India’s engagement with key Indo-Pacific countries.

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