India and Australia are scheduled to have a bilateral summit today (Monday, 21 March). Prime Minister Narendra Modi will hold a virtual bilateral summit with his Australian counterpart Scott Morrison. During this, Australia may announce an investment package of Rs 1,500 crore in India. External Affairs Minister S Jaishankar had delegation-level talks with his Australian counterpart Alexander der Schallenberg on Sunday, during which many important issues were discussed and agreed upon between the two countries.
The delegation-level talks between External Affairs Minister S Jaishankar and Australian Foreign Minister Alexander Schallenberg took place at Hyderabad House in Delhi late on Sunday evening. After the meeting, External Affairs Minister S Jaishankar said in a tweet, "There was a detailed discussion on various issues. We reviewed bilateral relations and looked at new possibilities of economic partnership. Along with this, the situation in Ukraine, the Indo-Pacific region and the issue of Afghanistan was also discussed. After the talks of this delegation of foreign ministers of India and Australia, now there is going to be a virtual meeting of the Prime Ministers of both the countries.
The virtual meet between PM Modi and his Australian counterpart Scott Morrison will be followed by a bilateral summit between India and Australia. During the summit meeting with PM Modi, Australian Prime Minister Scott Morrison can announce investments of about Rs 1,500 crore in various sectors of India. This will give further impetus to the development of India. The interim trade agreement between India and Australia, known as the 'Early Harvest Trade Agreement', also expires this month. To promote mutual partnership, the two countries will also build a centre in Canberra, Australia.
According to top-ranked sources, during this period, announcements can also be made between India and Australia regarding cooperation in the field of space, cyber activity, technology, agriculture, education and broadcasting. During the summit, a special announcement can also be made between the two sides regarding cooperation in the field of 'Rare Earth Minerals'. Australia on Sunday said it looked forward to signing a Phase I trade deal with India by the end of this month. This will be the second digital summit between PM Modi and Scott Morrison. Earlier in June 2020, both the leaders virtually met each other.