Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese held the second India-Australia Annual Summit on the sidelines of the G20 Summit in Rio de Janeiro on November 19.

Highlights of 2nd India-Australia Annual Summit:

• A raft of issues including ways to boost ties in areas of defence and security ties, mobility, science and technology and education figured prominently at the second India-Australia Annual Summit.

• 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.

• The two leaders looked forward to a long-term vision of defence and security collaboration to enhance collective strength, contribute to both countries' security, and make an important contribution to regional peace and security.

• They welcomed the launch of the Renewable Energy Partnership (REP) which would provide the framework for practical cooperation in priority areas such as solar energy, green hydrogen, energy storage, investments in related projects and allied areas.

• Both sides are keen to build on the momentum created by the Economic Cooperation and Trade Agreement (ECTA) which was signed in 2022.

• They welcomed further work towards an ambitious, balanced and mutually beneficial Comprehensive Economic Cooperation Agreement (CECA), to realise the full potential of the bilateral economic relationship.

• The two leaders observed that ‘Make in India’ and ‘Future Made in Australia’ have complementarity and collaborative potential and could help create new jobs, unlock economic growth and secure our future prosperity in a changing world.

• The leaders called for greater two-way investments reflective of the Comprehensive Strategic Partnership and instructed officials to explore ways to realise greater synergies between the economies of both the countries.

• They welcomed the growing space partnership between the two countries, both at space agency and space industry levels. Cooperation to support the Gaganyaan missions, the planned launch of Australian satellites on-board an Indian launch vehicle in 2026 and joint projects between our respective space industries exemplify this deepening collaboration.

• They reiterated their strong support for the Indian Ocean Rim Association (IORA) as the Indian Ocean region’s premier forum for addressing the region’s challenges and looked forward to working closely together when India assumes the IORA Chair in 2025.

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