Current Context : The 2nd India-Australia Annual Summit was held on the sidelines of the G20 Summit in Rio de Janeiro.
- Meeting was held between Prime Minister Narendra Modi of India and Prime Minister Anthony Albanese of Australia.
Major Initiatives and Agreements :
- Extension of the Australia-India Business Exchange (AIBX):
- Program extended for 4 more years (from July 2024).
- Aims to provide businesses with market insights and foster partnerships.
- Originally launched in 2021.
- Launch of the India-Australia Renewable Energy Partnership (REP):
- Focuses on practical cooperation in renewable energy sectors such as solar PV, green hydrogen, energy storage, and workforce skills training.
- Supports two-way investments and skills upgrades for the clean energy sector.