On November 19, 2024, Prime Minister Narendra Modi of India and Prime Minister Anthony Albanese of Australia held the 2nd India-Australia Annual Summit in Rio de Janeiro, alongside the G20 Summit. This summit marked a pivotal moment in the bilateral relationship, showcasing significant progress in diverse areas under the India-Australia Comprehensive Strategic Partnership (CSP). The leaders discussed shared regional and global challenges, emphasizing the importance of peace, stability, and prosperity in the Indo-Pacific region.
Key Highlights from the Summit
Strengthening Economic and Trade Relations
- Increased Bilateral Trade: Two-way trade surged, supported by the India-Australia Economic Cooperation and Trade Agreement (ECTA).
- Comprehensive Economic Cooperation Agreement (CECA): Leaders expressed intent to finalize an ambitious, balanced CECA to unlock full economic potential.
- Investment Synergies: Emphasis on collaborative programs like ‘Make in India’ and ‘Future Made in Australia.’
- Australia-India Business Exchange (AIBX): Extended until 2028 to promote business partnerships.
Advancing Energy, Science, and Technology
- Renewable Energy Partnership (REP): Framework for cooperation in solar PV, green hydrogen, energy storage, and workforce training.
- Critical Minerals Collaboration: Progress under the MoU between India’s KABIL and Australia’s Critical Minerals Office for clean energy transitions.
- Space Cooperation: Joint projects, including Gaganyaan support and the planned 2026 launch of Australian satellites by India.
Defense and Security Cooperation
- Enhanced Defense Collaboration: Plans to renew the Joint Declaration on Defence and Security Cooperation in 2025.
- Defense Exercises: Increased frequency and complexity of joint exercises to enhance interoperability.
- Maritime Security: Development of a joint roadmap for maritime security collaboration, including increased information-sharing.
- Defence Industry Engagement: Indian participation in the 2024 Perth Defence Conference and Melbourne Exposition.
Parliamentary Cooperation
- Leaders emphasized the importance of inter-parliamentary exchanges as a component of the CSP.
Education, Sports, and People-to-People Ties
- Consulate Openings: New Consulate-General offices in Bengaluru and Brisbane to bolster cultural and trade ties.
- Mobility Programs: Launch of Australia’s Working Holiday Maker Visa and the MATES scheme for STEM graduates.
- Educational Collaboration: Australian universities established campuses in India, strengthening bilateral educational partnerships.
- Sports Diplomacy: Engagement in sports workforce training, science, and event management.
Regional and Multilateral Cooperation
- Indo-Pacific Focus: Reiterated commitment to an open, inclusive, stable Indo-Pacific aligned with UNCLOS principles.
- Quad Cooperation: Strengthened ties within the Quad framework to address challenges like pandemics, maritime security, and climate change.
- Indian Ocean Collaboration: Joint efforts under the Indo-Pacific Oceans Initiative (IPOI) and Indian Ocean Rim Association (IORA).
Commitment to Global Peace and Security
- Terrorism: Joint condemnation of terrorism and focus on combating financing through FATF and other mechanisms.
- Global Conflicts: Advocated resolution of conflicts via diplomacy and dialogue.
Looking Forward
- Commemoration of the CSP’s Fifth Anniversary (2025): Celebratory initiatives planned to mark five years of strengthened ties.
- Future Summit: India to host the 3rd Annual Summit in 2025.
| Summary/Static | Details |
| Why in the news? | India and Australia Concluded 2nd Annual Summit alongside G20 in Rio De Janeiro, Brazil. |
| Focus Area | |
| Economic and Trade Relations | – Surge in bilateral trade under ECTA.
– Progress on CECA for deeper economic ties. – Extension of AIBX till 2028. |
| Energy, Science, and Technology | – Launch of Renewable Energy Partnership (REP) for green hydrogen, solar PV, and energy storage.
– Collaboration on critical minerals via KABIL and Australia’s Critical Minerals Office. – Deepening space cooperation, including support for Gaganyaan and Australian satellite launches by 2026. |
| Defence and Security | – Renewal of Defence and Security Declaration in 2025.
– Joint maritime security roadmap and enhanced interoperability. – Defence industry collaborations at conferences in Perth and Melbourne. |
| Parliamentary Cooperation | – Agreement to strengthen inter-parliamentary exchanges.
Education and People-to-People Ties – New consulates in Bengaluru and Brisbane to boost cultural and trade ties. – Launch of Working Holiday Maker Visa and MATES Scheme for STEM graduates. – Expansion of Australian university campuses in India. |
| Sports Diplomacy | – Collaboration in training, workforce development, and sports science.
Regional and Multilateral Cooperation – Commitment to an open, inclusive Indo-Pacific aligned with UNCLOS. – Enhanced cooperation within Quad and IORA frameworks. – Bilateral efforts under IPOI to address maritime ecology and pollution. |
| Global Peace and Security | – Joint condemnation of terrorism and support for FATF initiatives.
– Advocacy for conflict resolution via diplomacy. |
| Looking Ahead | – Plans to commemorate the 5th anniversary of CSP in 2025.
– India to host the 3rd Annual Summit. |
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