RIO DE JANEIRO: India and Australia officially launched a Renewable Energy Partnership to enhance bilateral investment in the renewable energy sector, following talks between PM Modi and PM Albanese on Tuesday.

During the 2nd India-Australia Annual Summit at the G20 Summit in Rio de Janeiro, the two leaders reaffirmed their commitment to strengthening the Comprehensive Strategic Partnership across various sectors, including defence, trade, education, sports, space, mobility, and people-to-people connections.

In a press release, the MEA stated that the Prime Ministers expressed satisfaction with the growing two-way trade, business ties, and market access for goods and services under the India-Australia Economic Cooperation and Trade Agreement (ECTA). 

They also welcomed ongoing efforts toward an ambitious, balanced, and mutually beneficial Comprehensive Economic Cooperation Agreement (CECA) to unlock the full potential of their economic partnership. MEA added in press release.

In a key step to boost bilateral relations, the Prime Ministers of India and Australia have welcomed the continued progress under the defence and security pillar of their Comprehensive Strategic Partnership. Both leaders expressed their intention to renew and strengthen the Joint Declaration on Defence and Security Cooperation in 2025, aiming to reflect the growing ambition of their partnership.

Looking ahead, they emphasized a long-term vision for defence and security collaboration to enhance mutual security, strengthen collective defence capabilities, and contribute to regional peace and stability. The move underscores the countries’ commitment to deepening their strategic convergence and reinforcing their elevated defence ties.

In a show of continued partnership, the Prime Ministers of India and Australia reaffirmed their commitment to deepening cooperation through the Quad, a strategic group of four Indo-Pacific democracies. The leaders stressed the importance of the Quad as a force for global good, emphasizing its role in delivering tangible, positive, and lasting impacts for the region. Their shared vision focuses on advancing a free, open, inclusive, and resilient Indo-Pacific, MEA stated in press release.

During their discussions, the Prime Ministers lauded the Quad’s ongoing efforts in several key areas, including responding to pandemics, strengthening maritime security, and addressing climate change. The leaders highlighted the Quad’s ambitious projects aimed at enhancing maritime domain awareness, building high-quality infrastructure, and fostering collaboration in emerging technologies. Additionally, the group is working to tackle cybersecurity threats and invest in the next generation of technology leaders.

Prime Minister Modi also expressed his eagerness to host Australia at the upcoming Quad Leaders’ Summit in India in 2025, further underscoring the growing importance of the Quad in shaping a secure and prosperous Indo-Pacific region. The renewed commitment to these initiatives marks a pivotal moment in the strategic alignment between India, Australia, and their Quad partners, MEA stated in press release.