Early conclusion of complete financial pact between India, Australia on the playing cards

Express News Service

NEW DELHI: Prime Minister Narendra Modi and Australian Prime Minister Scott Morrison on Monday attended the second India-Australia digital summit. Both mentioned their dedication in the direction of strengthening bilateral commerce, migration and mobility and training.

However, the a lot awaited Rs 1,500 crore funding package deal, which PM Morrison was anticipated to announce for India on Monday, didn’t occur. There is not any readability on why this didn’t occur as no joint assertion was issued.

Australian High Commissioner to India Barry O’Farrel had on Sunday indicated that this funding package deal, which might have been the biggest ever by Australia for India, can be introduced through the summit.

Unlike PM Modi who shared many tweets concerning the summit, the Australian PM didn’t share any.

ALSO READ: 29 antiquities repatriated to India by Australia: Government

Meanwhile, the early conclusion of the Comprehensive Economic Cooperation Agreement (CECA) is on the playing cards.

“The CECA between India and Australia is soon to be concluded,” mentioned Foreign Secretary Harsh Vardhan Shringla.

“Trade and investment, defence and security, education and innovation, science and technology — in all these sectors we have very close cooperation. CECA is crucial for our economic relations, economic revival and economic security,” mentioned PM Modi.

PM Modi additionally mentioned India and Australia had been collaborating effectively as a part of the Quad.
 
“Our cooperation reflects our commitment to a free, open and inclusive Indo-Pacific,” PM Modi added.

This was the second India-Australia digital summit. The first one was held in June 2020.

Meanwhile 29 antiquities — consisting of sculptures and work executed in quite a lot of supplies — have been repatriated from Australia to India. These artefacts belong to 6 broad classes together with the themes of ‘Shiva and his disciples,’ ‘Worshipping Shakti,’ ‘Lord Vishnu and his kinds,’ Jain custom, portraits and ornamental objects.

PM Morrison talked about the specter of rising change within the Indo-Pacific area, within the wake of the Russia-Ukraine battle. He additionally mentioned that Russia wanted to be held accountable.

“We are obviously distressed at the terrible situation in Europe though our focus is very much on the Indo-Pacific,” PM Morrison mentioned.