'India a bright spot for global economy', says PM Modi during Sydney event

Prime Minister Narendra Modi, on Tuesday, arrived in Sydney's Qudos Bank Arena with his Australian counterpart Anthony Albanese to attend a special community event. 

During his visit, Prime Minister Modi addressed members of the Indian diaspora at the event and said that the relationship between India-Australia is based on mutual trust and respect. 

While addressing the event, Prime Minister Modi also thanked his Australian counterpart for supporting him in unveiling the foundation stone of 'Little India', a suburb of Sydney.

Addressing the gathering at the Qudos Bank Arena, Prime Minister Modi also announced that India will open a consulate in Brisbane to fulfill the long-pending demand by the diaspora.

The event was also addressed by Australian Prime Minister Anthony Albanese, who said, 'Prime Minister Modi is the boss’. "The last time I saw someone on this stage was Bruce Springsteen and he did not get the welcome that Prime Minister Modi has got."

PM Modi embarked on his second visit to Australia to boost bilateral defence and security ties between the two nations. His visit comes at a time amid China's growing influence in the Indo-Pacific region.

PM Modi also hailed India and called it the world's biggest talent factory. Modi, who arrived to a rousing welcome that according to Albanese was not even accorded to legendary singer Bruce Springsteen, also described India as a "force of global good" and a "bright spot" in the world economy.

Earlier in the day, PM Modi also met top business leaders of Australian companies and called for boosting cooperation with the Indian industry in various areas of development such as technology, skilling, and clean energy.

Underling that the IMF considers India the bright spot of the global economy, Modi said according to the World Bank, if there's any country that is withstanding global headwinds, it's India. "India has made record exports even in the most challenging times," he said, adding that India does not lack capability, India does not lack resources either. "Today, the country which has the world's biggest and youngest talent factory is...India," he asserted.

(With inputs from PTI)