2nd India-Australia Annual Summit

Syllabus :GS 2/IR

In News

The Prime Minister of India  and the Prime Minister of Australia held the second India-Australia Annual Summit on the sidelines of the Group of 20 (G20) Summit in Rio de Janeiro

Outcomes of India -Australia Summit

• Bilateral Progress:Both Prime Ministers acknowledged significant progress in strengthening ties across sectors like climate change, renewable energy, trade, investment, defence, education, and people-to-people relations.
• Economic Cooperation: 
  • India-Australia Economic Cooperation and Trade Agreement (ECTA) is boosting trade and market access.
  • Work toward a more comprehensive Comprehensive Economic Cooperation Agreement (CECA) is underway.
  • The Australia-India Business Exchange (AIBX) programme extended for another four years to strengthen business connections.
• Energy and Environment: Launch of the India-Australia Renewable Energy Partnership (REP) for cooperation in solar PV, green hydrogen, energy storage, and renewable energy workforce development.
  • Progress on the Memorandum of Understanding (MoU) between India’s Khanij Bidesh Ltd. and Australia’s Critical Minerals Office to advance critical minerals for clean energy.
• Space Cooperation: Growing space partnership with joint projects, such as support for Gaganyaan missions and the launch of Australian satellites on Indian vehicles in 2026.
• Defence and Security: Renewal of Joint Declaration on Defence and Security in 2025, focusing on stronger collaboration.
  • Increased defence exercises and interoperability under the Mutual Logistics Support Arrangement.
  • Maritime security and reciprocal information-sharing agreements to ensure regional peace and stability.
  • Indian and Australian defence industries to collaborate further, with participation in defense expos and industry visits.
• Parliamentary Cooperation: Emphasis on continued inter-parliamentary cooperation as part of the strategic partnership.
• Education, People-to-People and Mobility: Working Holiday Maker visa programme and MATES mobility scheme to enhance people-to-people ties and mobility of professionals.
  • Opening of new consulates in Bengaluru and Brisbane to strengthen trade and cultural links.
  • Collaboration in education and sports, including Australian universities establishing campuses in India and joint initiatives for sports science and event management.
• Regional and Multilateral Cooperation: Commitment to a free, open, and inclusive Indo-Pacific, with shared interests in regional peace, stability, and sovereignty.
  • Support for Quad initiatives in health, security, infrastructure, and climate change.
  • Reinforcement of ASEAN centrality and cooperation under regional frameworks like the East Asia Summit and Indo-Pacific Oceans Initiative.
  • Commitment to Indian Ocean cooperation, including Indian Ocean Rim Association (IORA), and support for Pacific island countries on climate, health, and education.
• Counter-Terrorism and Global Issues: Both leaders reaffirmed their commitment to combating terrorism and explored cooperation on terrorism financing and Financial Action Task Force (FATF) initiatives.
• Looking Ahead: Both leaders expressed commitment to deepening bilateral ties further and welcomed the 2025 commemoration of the fifth anniversary of the Comprehensive Strategic Partnership.
  • They looked forward to the next India-Australia Annual Summit in 2025.

Source: PIB