2nd India-Australia Annual Summit

Context

Prime Minister of India and Australia held the second India-Australia Annual Summit on the sidelines of the Group of 20 (G20) Summit in Rio de Janeiro.
The meeting reviewed the progress in bilateral ties and laid out initiatives to strengthen cooperation across various sectors, ahead of the fifth anniversary of the Comprehensive Strategic Partnership (CSP) in 2025.

Key Highlights of India-Australia Annual Summit

Economic Cooperation: Progress under the India-Australia Economic Cooperation and Trade Agreement (ECTA) was acknowledged.
- Further work was welcomed towards a Comprehensive Economic Cooperation Agreement (CECA) to fully realise bilateral economic potential.
Complementary Initiatives:
- Synergy between India’s ‘Make in India’ and Australia’s ‘Future Made in Australia’ programs could drive job creation and economic growth.
Australia-India Business Exchange (AIBX): Extension of the AIBX program for 4 years from July 2024 to boost business partnerships.

Renewable Energy Partnership (REP): Launched to foster cooperation in areas like:
- Solar PV
- Green hydrogen
- Energy storage
- Skills training for the renewables workforce.
Critical Minerals Collaboration: Progress under the KABIL-Australia Critical Minerals Office MoU to develop sustainable supply chains for global clean energy needs.
- Emphasis on innovation, skills development, and professional exchanges in critical minerals.
Space Collaboration: Strengthened partnership on Gaganyaan missions and satellite launches planned for 2026.
- Joint projects involving space industries of both nations.

Enhanced Defence Collaboration: Renewal of the Joint Declaration on Defence and Security Cooperation in 2025 to reflect increased strategic convergence.
- Boost in defence exercises and implementation of the Mutual Logistics Support Arrangement.
Maritime Cooperation: Development of a joint maritime security collaboration road map.
- Reciprocal defence information-sharing and enhanced maritime domain awareness.
Defence Industry Engagement: Indian participation in:
- Indian Ocean Defence & Security Conference (Perth, 2024).
- Land Forces Exposition (Melbourne).
Strengthened connections between Indian and Australian defence start-ups.

Consular Expansions: New Australian Consulate-General in Bengaluru and Indian Consulate-General in Brisbane to deepen trade and cultural ties.
Mobility and Education Initiatives:
- Launch of Australia’s Working Holiday Maker visa for Indians (October 2024).
- Upcoming Mobility Arrangement for Talented Early-professionals Scheme (MATES) to promote STEM graduate mobility.
- Australian universities establishing campuses in India.
Sports Cooperation: Focus on capacity building in:
- Workforce training.
- Sports science and event management.

Indo-Pacific Vision: Commitment to an open, inclusive, peaceful Indo-Pacific with adherence to international laws like UNCLOS.
- Support for the Quad as a force for regional resilience and progress.
ASEAN Engagement: Support for the ASEAN Outlook on the Indo-Pacific (AOIP) and enhanced bilateral collaboration under the Indo-Pacific Oceans Initiative (IPOI).
Indian Ocean and Pacific Island Support: Success of the 2024 Indian Ocean Conference co-hosted in Perth.
- Ongoing commitment to the Pacific Islands Forum’s 2050 Strategy for the Blue Pacific Continent.
Counter-Terrorism: Strong emphasis on combating terrorism through collaboration in the Financial Action Task Force (FATF) and other initiatives.