Description

India and Australia conducted a virtual summit on March 21st. There were discussions during the summit about vital investment, critical minerals, migration, defence, technical cooperation, and digital industries. This summit was attended by Prime Minister Modi and Australian Prime Minister Scott Morrison. The inaugural Virtual Summit took place in 2020. Following the most recent virtual summit, it was decided to convene yearly summits at the Heads of Government level.

Concerning crucial minerals and the investment sector

A MoU was inked in the critical mining industry between Khanij Bidesh India Ltd. (KABIL) and the Critical Mineral Facilitation Office of Australia. Increased collaboration between Australia's pension and sovereign fund, Future Fund, and India's National Investment and Infrastructure Fund (NIIF) is also planned. The agreement also seeks to increase India's commerce with Australia. Both nations have announced the establishment of a "General Vipin Rawat young defence officers exchange programme" in the defence and security sector. This will allow young policemen from both nations to become acquainted with one another. The Quad grouping and its role in the Indo-Pacific region were also examined.

Concerning Migration

A letter of intent was also signed between the two nations, with the goal of developing a "Migration and Mobility Partnership Agreement." This agreement will aid in the facilitation of migration between the two countries.

Concerning the digital and technical sectors

India has recommended that both countries' digital payment systems be integrated. The payment systems are India's United Payments Interface and Australia's New Payments Platform. The system integration will benefit both nations and their populations. The nations have also worked together in the space industry.

Conclusion

The nations will also strive to expand their collaboration in other key areas like as climate change, the Coalition for Disaster Resilient Infrastructure, the International Solar Alliance, and so on.

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