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Largest Australian investment in India on agenda

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PM Modi-Australian PM summit:
Business

In a bilateral summit between Prime Minister Narendra Modi and his Australian counterpart Scott Morrison on Monday, March 21, the Australian government will return 29 artefacts to India. Australia will also announce investments worth Rs 1,500 crore in India at the virtual summit.

The investments will be spread across industries in several sectors like technology, critical minerals, etc. This will be the largest investment by Australia in India.

This is the second such summit between the two leaders. The India-Australia summit follows the historic first virtual summit of June 4, 2020, when the relationship between the two nations was elevated to a ‘Comprehensive Strategic Partnership’.

During the upcoming virtual summit, both the leaders will take stock of progress made on various initiatives under the Comprehensive Strategic Partnership. The virtual summit will lay the way forward on new initiatives and enhanced cooperation in a diverse range of sectors between India and Australia. The leaders are expected to commit to closer cooperation in trade, critical minerals, migration and mobility, and education, among others. Ties between India and Australia have been on an upswing in the last few years.

As the summit is taking place in the midst of the crisis in Ukraine, it is expected to figure in the talks between the two world leaders. Unlike its Quad partners the US, Japan, and Australia India has not condemned the Russian invasion of Ukraine and has maintained that the crisis should be resolved through dialogue and diplomacy.

Views on regional and international issues of mutual interest will also be discussed by the Leaders. The Summit highlights the importance attached by both countries to their bilateral relations as also their close cooperation on regional and global issues.

(www.indiatoday.in)

Saturday, March 26, 2022 – 01:00











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