Indian Prime Minister Narendra Modi and Australian Prime Minister Scott Morrison will be holding their first ever bilateral virtual meeting on Thursday. Sources said that the focus will fall on deepening the defence relations of the two nations.
Since Modi’s BJP came into power steps have been taken to strengthen India’s relationship with Australia, particularly on the defence activities. Since 2015 joint defence activities have been conducted in Australian and Indian soil.
The bilateral meeting will also focus on deepening investment, trade and reviewing broad framework of the relationship between 2 countries and discuss how they are fighting COVID-19.
Ministry of External Affairs said through a press release that Economic engagement has been growing between both nations. In 2018-19, the trade between the two countries was around US$ 21 billion. Australia’s cumulative investment in India is about US$ 10.74 billion whereas India’s total investment in Australia is US$ 10.45 billion.
AustralianSuper Pension Fund has invested US$ 1 billion in India’s National Investment and Infrastructure Fund. The two countries are looking at stepping up investments and trade with each other.
After the end of the bilateral virtual meeting many important agreements are likely to be signed by the two Prime Ministers that includes an important agreement that deals with the mutual sharing of military logistics facilities.