Lagatar24 Desk
Canberra, March 20: Australia is set to announce the largest-ever investment by the Australian government in India, worth Rs 1,500 crore, in multiple sectors. The India-Australia bilateral summit will take place on Monday, March 21, following Prime Minister Narendra Modi’s meeting with his Australian counterpart, Scott Morrison.
The India-Australia bilateral summit will be held tomorrow, March 21, post the meeting between PM Modi & Australian PM Scott Morrison.
Australia to announce an investment of Rs 1,500cr in India in multiple sectors; largest-ever investment by the Australian government in India. pic.twitter.com/NJtSCAlOZg
— ANI (@ANI) March 20, 2022
According to the sources, India and Australia will sign a Memorandum of Understanding (MoU) in the field of critical minerals, which will help and increase access of India to acquire metallic coal and lithium from Australia. India-Australia will conclude trade agreement by the end of this month.
Notably, PM Modi and his Australian counterpart are set to hold the second India-Australia Virtual Summit on Monday to lay the groundwork for new initiatives and strengthen bilateral cooperation in a variety of sectors.
The Summit comes on the heels of the historic first Virtual Summit in June 2020, at which the relationship was elevated to a Comprehensive Strategic Partnership. The Leaders will assess progress on various initiatives under the Comprehensive Strategic Partnership at the upcoming virtual summit.
The Leaders are expected to commit to closer cooperation in areas such as trade, critical minerals, migration and mobility, and education, among others, according to a press release from the Ministry of External Affairs (MEA).
