A new agreement between the Business Council of Australia and the Confederation of Indian Industry (CII) will help build relationships, boost cooperation and facilitate a revitalised CEO Forum to be held annually.
Witnessed by Prime Minister Albanese and BCA members worth more than $880 billion, the MoU was signed at the conclusion of a CEO Forum that brought together the biggest investors and employers from both nations, Business Council chief executive Jennifer Westacott said.
“Everyone knows that better India-Australia trade is a massive opportunity but for too long our economic relationship has been underdone.
“The Prime Minister’s decision to make this critical visit happen is hugely significant.
“This delegation puts some of the biggest investors and largest businesses from Australia in the room with political and business leaders from both nations.
“There’s a reason the Australian delegation is so senior and so significant, this is the right place at the right time.
“India will be critical to realising Australia’s ambitions in areas like clean energy, critical minerals and education, and Australia has the products and services India needs to keep growing.
“This can’t be about a fleeting visit every few years, Australia and our businesses are aiming for ongoing engagement and to build the relationships we need to keep it going.
“For Australia, this trip isn’t just about gaining a slice of a massive market, we have to send the message that we’re open to investment.
“We’re not the only nation boosting engagement across the region, so we’ve got to work hard to make ourselves as competitive as possible.
“Businesses are ready but we’ll need to work with government to get the signals right, attract new investment and lift living standards at home and in India.”
