PM Modi meets Australian CEOs, highlights transformative reforms, India's credentials as investment destination
May 23, 2023
Sydney [Australia], May 23 Prime Minister Narendra Modi on Tuesday met some leading industrialists of Australia and highlighted "transformative reforms and initiatives" taken by his government and India's credentials as one of the most preferred major economies for foreign investments in the world.
The Prime Minister, who is on a three-day visit to Australia, met John Andrew Henry Forrest, executive chairman of Fortescue Future Industries, an Australia-based green energy and technology firm. PM Modi also met Georgina Hope Rinehart, executive chairman of Hancock Prospecting, and Paul Schroder, chief executive officer, AustralianSuper.
The Prime Minister, who reached Australia on Monday from Papua New Guinea on the last leg of his three-nation visit, will have a bilateral meeting with Australian Prime Minister Anthony Albanese.
PM Narendra Modi met Paul Schroder, Chief Executive, AustralianSuper and highlighted India's credentials as one of the most preferred major economies for foreign investments in the world. He invited AustralianSuper to partner with India.
In his meeting with Andrew Forrest, executive chairman and founder of Fortescue Metals Group and Fortescue Future Industries, PM Modi highlighted the transformative reforms and initiatives being taken by India, such as the Green Hydrogen Mission. He emphasized India's ambitious renewable energy plans.
PM Modi welcomed Fortescue Group's plans to work with Indian companies in the field of Green Hydrogen.
Forrest briefed Prime Minister on Fortescue Future Industries plans and projects in India.
PM Modi met Gina Rinehart AO, Executive Chairman, Hancock Prospecting Group, Roy Hill, S. Kidman & Co, and highlighted the transformative reforms and initiatives being undertaken in India and invited her to partner in technology, investment and skilling in the mining and minerals sector.
After his meeting with PM Modi in Sydney, Andrew Forrest talked of PM Modi's efforts to promote green energy.
"...Fossil fuel sector has only limited time to run and it must be replaced with a fuel which causes no harm and can do everything which coal, oil and gas can do. That is something that PM is clearly a global champion on and I found the PM to be the global govt partner of the global industry partner to promote green hydrogen across the world...," Forrest said.
Paul Schroder said PM Modi is a very impressive person who understands business.
"Ours was a most impressive meeting, the PM is a very impressive person who understands business which is very encouraging as well. The PM talked about his dreams for India and his ethic which was a really powerful message..," Schroder said, adding, "AustralianSuper does invest in India...and we have had a very good experience in investing in India."
Georgina Hope Rinehart told the media after meeting with PM Modi that business ties between Australia and India have huge potential.
"It was very interesting, it was actually exciting. The potential for our two countries is huge...In the last less than 5 years under Modi, your economy has grown to 3.5 trillion (USD) and the plan for the next 25 years is to grow to 32 trillion (USD). So, the growth recently is huge. The growth in future is going to be huge. Australia really needs to work harder to develop its relations with India..," Rinehart said.
