ANZ CEO calls India "one of the most powerful nations in world" amid nuclear deal

Australia and New Zealand Banking Group Limited (ANZ) CEO Nuno Matos has declared India "one of the most powerful nations in the world." Matos cited the country's significant economic reforms, rapid technological transformation, and sustained high growth as key factors.

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In India, it's a very strong nation at this point in time. India has done a lot of reforms. It's performing very well, and it's transforming its business for the future based on technology, on renewables, on other sectors like EVs So India clearly is attracting a lot of attention from the rest of the world.

Speaking at the Australia CEO Forum on Clean Energy and Nuclear Partnerships in Melbourne, Matos emphasized India's emergence as a major global economic force. "India has been growing at almost 8 percent in the last five years. It's the leading nation in terms of growth among the G20 nations," he stated, adding that India "is now, if you want, one of the most powerful nations in the world."

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India has been growing at almost 8 per cent in the last five years. It's the leading nation in terms of growth among the G20 nations. So it's a clear and unstoppable reality, and I think India is now, if you want, one of the most powerful nations in the world.

Matos's remarks align with a significant development in India-Australia relations. The two nations signed a landmark nuclear energy agreement, under which Australia will supply uranium for India's civil atomic program. Indian Prime Minister Narendra Modi called the agreement a "transformative catalyst" for India's clean energy goals.

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Australia will supply uranium to India. We have signed an important agreement in the field of nuclear energy. It will give new momentum to our clean energy goals.

Further strengthening bilateral ties, India and Australia also agreed to collaborate on a Critical Minerals Corridor. This initiative aims to bolster high-tech supply chains, support the clean energy transition, and enhance cooperation in critical minerals, defense, technology, and Indo-Pacific security. The deepening partnership underscores a shared geopolitical vision between the two democracies.

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Australia will supply uranium to India. We have signed an important agreement in the field of nuclear energy. It will give new momentum to our clean energy goals.