HIGHLIGHTS
- Second India-Australia virtual summit to kick-off today
- PM Modi and his Australian counterpart Scott Morrison will hold talks on March 21
- They’ll lay the roadmap on new initiatives & enhance cooperation in a diverse range of sectors
Prime Minister Narendra Modi and his Australian counterpart Scott Morrison will hold talks today (March 21) on the occasion of the Second India-Australia virtual summit to lay the roadmap on new initiatives and enhance cooperation in a diverse range of sectors between the two countries.
The summit is expected to witness the largest ever trade pact by the Australian government in India with Canberra set to announce investments worth Rs 1,500 crore in the country across multiple sectors.
The two countries are also expected to conclude an early harvest agreement by the end of this month.An early harvest agreement is aimed at liberalising tariffs on the trade of certain goods between two countries or trading blocs before a comprehensive agreement.
As per sources, the two countries will sign a Memorandum of Understanding (MoU) in the field of critical minerals, which will help increase India’s access to metallic coal and lithium in Australia and cater to India’s growing demand for electric vehicles and growing infrastructure.Further, the Union Minister of Coal and Mines in India, Pralhad Joshi, will visit Australia soon, as per the sources.
