Australian Business Leaders Laud PM Modi's Economic Reforms

Australian Business Leaders Laud PM Modi’s Economic Reforms

Australian billionaire Gina Rinehart praised India’s economic progress and called for stronger India-Australia relations. (Image: Twitter/PMOIndia)

Australian billionaire Gina Rinehart, former CEO of Fortescue Metals Group, John Andrew Henry Forrest and Paul Schroder, CEO of AustralianSuper praise India’s economic progress under PM Modi.

Prime Minister Narendra Modi on Tuesday met the Australian business leaders Gina Rinehart, John Andrew Henry Forrest and Paul Schroder in Sydney.

Georgina Hope Rinehart is an Australian billionaire mining magnate and businesswoman and the executive chairman of Hancock Prospecting.

“Fostering India-Australia collaboration in the mining and minerals sector. PM Narendra Modi held a meeting with Georgina Hope Rinehart, Executive Chairman of Hancock Prospecting Group, Roy Hill and S. Kidman & Co, in Sydney,” external affairs ministry spokesperson Arindam Bagchi tweeted shortly after their meeting.

“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 and the plan for the next 25 years is to grow to $32 trillion. The growth recently is huge. The growth in the future is going to be huge. Australia really needs to work harder to develop its relations with India,” Rinehart said.

“He came into office with an important mantra which was ‘from red tape to red carpet’. Cut approvals, regulations, so you can welcome investment and that is what he has done and wants to do for his country,” she further added while speaking to news agencies.

PM Modi also met John Andrew Henry Forrest, the former CEO of Fortescue Metals Group (FMG). Forrest was Australia’s richest person in 2008.

Also known as ‘Twiggy’, Forrest has other interests in the mining industry and in cattle stations.

“Fossil fuels have a limited run and there is a need for fuel that can do everything and causes no harm. That is something that the Prime Minister is clearly a global champion in and I have invited him to be the global government partner and the global industry partner to promote green hydrogen across the world,” Forrest said.

He said under the leadership of PM Modi, economic development has reached the grassroots of India.

PM Modi also met Paul Schroder, CEO of AustralianSuper. Schroder is responsible for the leadership and strategic development of the superannuation fund group.

AustralianSuper, the country’s premier superannuation fund, is trusted by 2.87 million Australians who depend on it to manage their retirement savings.

“Ours was a very interesting meeting and the Prime Minister understands business, which is very encouraging as well,” Schroder said.

He also said that AustralianSuper also invests in India and said the fund house has a good experience in investing in India.

After completing his visit to Papua New Guinea, Prime Minister Narendra Modi arrived in Sydney, marking the final leg of his three-nation tour.

He received a warm welcome from Australian High Commissioner to India Barry O’Farrell and other officials upon his arrival.

He is meeting Australian Prime Minister Anthony Albanese for a bilateral meeting on Tuesday.

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