India-Australia Defence Policy Talks held in Canberra

• The 8th India-Australia Defence Policy Talks was held in Canberra.

• During the talks, both sides reviewed the bilateral defence cooperation and explored new initiatives to further strengthen and deepen defence engagements. 

• The discussions also focused on identifying ways to strengthen partnership in co-development and co-production of defence equipment.

• Both sides reaffirmed their commitment to fully implement the ‘Comprehensive Strategic Partnership’.

India-Australia relations

• India and Australia established diplomatic relations in the pre-Independence period, with the establishment of India Trade Office in Sydney in 1941.

• The end of the Cold War and simultaneously India’s decision to launch major economic reforms in 1991 provided the first positive move towards development of closer ties between the two nations. 

• Both countries upgraded bilateral relationship from ‘Strategic Partnership’ in 2009 to ‘Comprehensive Strategic Partnership’ in June 2020.

• India and Australia are partners in the trilateral Supply Chain Resilience Initiative (SCRI) arrangement along with Japan which seeks to enhance the resilience of supply chains in the Indo-Pacific Region. 

• Further, India and Australia are also members of the Quad, also comprising the US, and Japan, to further enhance cooperation and develop partnership across several issues of common concern.

• The two countries have 2+2 ministerial dialogue mechanism.

• India is the ninth largest trading partner of Australia. During 2021, bilateral trade in goods and services was $27.5 billion, with exports of goods and services worth $10.5 billion and imports of goods and services worth $17 billion. 

• India’s merchandise exports to Australia grew 135 per cent between 2019 and 2021. India’s main exports to Australia are refined petroleum, medicaments, pearls & gems, jewellery, textile articles. India's major imports are coal, confidential items of trade, copper ores & concentrates, natural gas, non-ferrous waste & scrap, ferrous waste & scrap and education related services. 

• Australia has traditionally been a major trading partner for the Indian garment industry with exports occupying a share of about 4 per cent of total Australian garment imports. 

• In December 2022, India and Australia implemented the Economic Cooperation Trade Agreement (ECTA) and are now negotiating to expand its scope for Comprehensive Economic Cooperation Agreement (CECA).

• CECA will create new employment opportunities, raise living standards and improve the general welfare in both countries.

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