India and Australia : Highlights from the 2nd Annual Summit

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.