Important Meeting / Second virtual summit between PM Modi and Scott Morrison today, Australia to invest 1500 crores

Prime Minister Narendra Modi along with his Australian counterpart Scott Morrison will attend a virtual conference today (March 21). During this, both the leaders will discuss ways to further enhance bilateral ties. According to sources, the India-Australia interim trade agreement, known as the 'Early Harvest Trade Agreement', will also be concluded this month. The two countries will also set up a center in Canberra, Australia, to promote the partnership. There will also be announcements on space, cyber activities, technology, agriculture, education and broadcasting.

On Friday, Australian Prime Minister Morrison said about this summit that we will discuss strengthening our trade and investment ties and talk about new opportunities for mutual economic growth. He said that we will also talk about the situation in Ukraine and its impact on the Indo-Pacific and Myanmar. He described the strengthening ties between the two countries as very important.

Morrison to announce investment of Rs 1500 crore

According to the information, after the conference, Morrison will announce an investment of Rs 1500 crore in various sectors in India. This will be the largest ever investment by the Australian government in India. On the other hand, news agency ANI quoted sources as saying that India and Australia will sign an MoU in the field of important minerals. This will help India increase access to access to metallic coal and lithium from Australia. According to sources, some announcements will also be made in the field of space, cyber activities, technology, agriculture, education and broadcasting.

Let us tell you that the relations between India and Australia have become very strong in the last few years. Relations between the two have strengthened in other areas including business. In June 2020, India and Australia extended their ties under a Comprehensive Strategic Partnership.

The two countries had signed a landmark agreement 'Mutual Logistics Support Agreement' (MLSA) for mutual access to military bases for logistics cooperation. Allows to use each other's bases.

The Australian Navy also participated in the Malabar naval exercise hosted by India in November 2020 and this year as well. According to the Indian Ministry of External Affairs, during this virtual summit, the Prime Ministers of both the countries will take stock of the progress of various ongoing initiatives under the Comprehensive Strategic Partnership. This conference will pave the way for new initiatives and enhancing cooperation between the two countries in various fields.