CANBERRA, 25 MAY 2026: Prime Minister Anthony Albanese has highlighted the growing strategic and economic importance of Australia–India ties while marking the 40th anniversary of the Australia India Business Council (AIBC) in Canberra.
Speaking at Parliament House on Monday, Albanese said the milestone reflected “decades of ambition, determination and hard work” in strengthening bilateral relations, originally envisioned by former prime ministers Bob Hawke and Rajiv Gandhi.
He underscored India’s rising global influence, noting it is on track to become the world’s third-largest economy by the end of the decade, and described its economic growth as “highly complementary” to Australia’s. The Prime Minister pointed to expanding cooperation in sectors such as technology, medical research, artificial intelligence and trade, alongside strong cultural and educational links.
Albanese also acknowledged the role of the Indian diaspora, now one of Australia’s fastest-growing communities, in deepening economic and social connections between the two countries. He reaffirmed the government’s commitment to maintaining a welcoming approach to migration and strengthening community ties.
The Prime Minister announced a $200,000 Maitri grant to the AIBC through the Centre for Australia-India Relations to support further business engagement initiatives.
Looking ahead, Albanese said he anticipated Indian Prime Minister Narendra Modi’s upcoming visit to Australia would further reinforce bilateral cooperation and community engagement.
The AIBC, established in 1986, has played a central role in promoting trade, investment and institutional links between the two nations over the past four decades.
