PM Modi holds second India-Australia Annual Summit with PM Albanese
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rime Minister Narendra Modi and Australia Prime Minister Anthony Albanese MP held the second India-Australia Annual Summit on the sidelines of the Group of 20 (G20) Summit in Rio de Janeiro on 19 November 2024.
India-Australia Comprehensive Strategic Partnership: Progress and Future Commitments
Ahead of the fifth anniversary of the India-Australia Comprehensive Strategic Partnership in 2025, the Prime Ministers noted the significant progress made in strengthening bilateral ties across a range of important sectors, including climate change and renewable energy, trade and investment, defence and security, education and research, skills, mobility, science and technology, regional and multilateral cooperation, community and cultural links, and people-to-people ties. Both Prime Ministers reflected on the shared interests of our region, noting with satisfaction that closer bilateral engagement has benefited both nations and the broader region. They welcomed sustained high-level contact and ministerial engagement between India and Australia.
Looking forward, the Prime Ministers reaffirmed their commitment to deepening cooperation and announced initiatives to focus and accelerate efforts for mutual benefit while promoting peace, stability, and prosperity in our shared region.
Economy, Trade, and Investments
The Prime Ministers expressed satisfaction at the increasing two-way trade, business engagements, and market access for goods and services enabled under the landmark India-Australia Economic Cooperation and Trade Agreement (ECTA). They welcomed further work towards an ambitious, balanced, and mutually beneficial Comprehensive Economic Cooperation Agreement (CECA) to realize the full potential of the bilateral economic relationship.
The leaders observed that ‘Make in India’ and ‘Future Made in Australia’ have complementarity and collaborative potential, which could help create new jobs, unlock economic growth, and secure future prosperity in a changing world. They called for greater two-way investments reflective of the Comprehensive Strategic Partnership and instructed officials to explore ways to realize greater synergies between their economies and promote mutually beneficial investments.
The Prime Ministers welcomed the extension of the Australia-India Business Exchange (AIBX) programme for another four years from July 2024, which continues to boost the confidence and capabilities of Australian and Indian businesses to connect and develop mutually beneficial partnerships.
Energy, Science and Technology, Space
India and Australia share a common ambition to move faster and work together to drive climate action. The Prime Ministers welcomed the launch of the India-Australia Renewable Energy Partnership (REP), which provides a framework for practical cooperation in priority areas such as solar PV, green hydrogen, energy storage, two-way investment in renewable energy projects, and upgraded skills training for the future renewables workforce.
They noted progress under the Memorandum of Understanding between India’s Khanij Bidesh Ltd. (KABIL) and Australia’s Critical Minerals Office as an opportunity to grow commercial links and advance supply chain diversification interests. The leaders emphasized the role of research and innovation, skills development, professional exchange, sustainable practices in developing the critical minerals sector in support of the global clean energy transition.
The Prime Ministers welcomed the growing space partnership between the two countries at both the space agency and space industry levels. Cooperation to support Gaganyaan missions, the planned launch of Australian satellites on Indian launch vehicles in 2026, and joint projects between their respective space industries exemplify this collaboration.
Defence and Security Cooperation
The Prime Ministers welcomed sustained progress under the defence and security pillar of the Comprehensive Strategic Partnership. They expressed intent to renew and strengthen the Joint Declaration on Defence and Security Cooperation in 2025 to reflect ambitions in both countries’ elevated defence and security partnership.
They appreciated the growing frequency and complexity of defence exercises and exchanges, increasing interoperability through the implementation of the Mutual Logistics Support Arrangement. The leaders welcomed arrangements for enhancing maritime domain awareness and increased reciprocal defence information-sharing to deepen operational defence cooperation.
The significance of defence industry research and material cooperation was highlighted, including participation of Indian defence industries in major defence trade expositions. They looked forward to future defence industry delegation visits between India and Australia.
Parliamentary Cooperation
Inter-parliamentary cooperation was reiterated as an important component of the Comprehensive Strategic Partnership, with both leaders looking forward to continued exchanges.
Education, Sports, and People-to-People Ties
Recognizing the strength of people-to-people linkages that enrich bilateral ties, the two leaders welcomed contributions from Australians of Indian heritage. They also welcomed the opening of new Consulates-General in Bengaluru and Brisbane to strengthen trade relations.
Mobility opportunities were acknowledged as key drivers of economic growth. The leaders welcomed Australia’s Working Holiday Maker visa programme for India in October 2024 and looked forward to launching Australia’s Mobility Arrangement for Talented Early-professionals Scheme (MATES).
The value of a strong educational partnership was emphasized, with Australian universities establishing campuses in India. The second Australia-India Education and Skills Council meeting held in October 2024 advanced educational cooperation. Sport was recognized as a significant opportunity to enhance bilateral ties through capacity building in training, sports science, medicine, and event management.
Regional and Multilateral Cooperation
The Prime Ministers reiterated their commitment to an open, inclusive, stable, peaceful, and prosperous Indo-Pacific where sovereignty is respected. They emphasized exercising rights consistent with international law, particularly freedom of navigation.
They reaffirmed their commitment to strengthening cooperation through the Quad as a force for global good. Prime Minister Modi looked forward to hosting Australia at the Quad Leaders’ Summit in India in 2025.
The leaders expressed ongoing support for ASEAN centrality and cooperation in preserving maritime ecology while reducing pollution impacts. They reflected on the success of the 2024 Indian Ocean Conference co-hosted by Australia and India.
Both leaders exchanged views on contemporary regional developments while condemning terrorism in all forms. They shared positive assessments of bilateral engagements and committed to further deepening ties for mutual benefit.
As they approach the fifth anniversary of the Comprehensive Strategic Partnership, both Prime Ministers welcomed opportunities to commemorate this milestone in 2025 while looking forward to the next India-Australia Annual Summit.
✔️ PM Modi holds second India-Australia Annual Summit with PM Albanese
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