India, Australia working on a bilateral investment treaty, says PM Modi
During PM Modi's Australia visit, India and Australia move to deepen investment ties through a bilateral investment treaty.
Prime Minister Narendra Modi on Thursday said India and Australia are working on a Bilateral Investment Treaty (BIT), signalling a fresh push to deepen economic ties and boost two-way investment between the two strategic partners.
Modi made the announcement during his three-day visit to Australia for the Third India–Australia Annual Summit in Melbourne, where he held bilateral talks with Australian Prime Minister Anthony Albanese. He said the proposed investment treaty would add new momentum to the economic relationship and further strengthen the investment partnership between the two countries.
The two leaders reaffirmed their commitment to expanding the India–Australia Comprehensive Strategic Partnership (CSP), saying the relationship must evolve to address emerging geopolitical and economic challenges while unlocking new opportunities for growth and cooperation.
The proposed Bilateral Investment Treaty is expected to provide a predictable and secure framework for investors, enhance investor confidence and facilitate greater cross-border investment, reinforcing the rapidly expanding economic partnership between New Delhi and Canberra.
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