Tuesday, August 9, 2022

India-Australia virtual summit: Rs.1500 Cr projects to be announced

Prime Minister Narendra Modi and his Australian counterpart Scott Morrison will hold the second India-Australia virtual summit today. The virtual summit will pave the way new initiatives and enhanced cooperation in a diverse range of sectors including trade, critical minerals, migration and mobility, and education, among others. Australia is expected to announce an investment of Rs 1,500 CR in India in multiple sectors, which is the largest-ever investment by the Australian government in India.

During the virtual summit today, the two leaders will also take stock of progress made on various initiatives under the Comprehensive Strategic Partnership. Views on regional and international issues of mutual interest, including the Ukraine situation, Quad and countering China will also be discussed. Highlighting the importance attached by both countries to their bilateral relations, the virtual summit is a sign of their close cooperation amid a tumultuous global environment.

The India-Australia Comprehensive Strategic Partnership has maintained the momentum of an upward trajectory with both countries continuing to collaborate closely, despite the Covid-19 pandemic, in wide-ranging areas including science and technology, defence, cyber, critical and strategic materials, water resource management, as well as public administration and governance.

The two leaders last meet iin Washington DC for the first in-person meeting after the Covid-19 pandemic in September 2021 on the margins of the Quad Leaders’ Summit. In the meet, they jointly launched the Infrastructure for Resilient Island States (IRIS).

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