India and Australia will hold annual summits at the level of the Heads of Government, under the Comprehensive Strategic Partnership, Foreign Secretary Harsh Vardhan Shringla announced on Monday.
Addressing a special briefing after the conclusion of the India-Australia virtual summit, Shringla added that Australia would be the third country with which India will have an institutionalized annual summit.
"A significant outcome of the virtual summit was a decision to hold annual summits at the level of the Heads of Government, under the comprehensive strategic partnership. Australia would be the third country with which India will have an institutionalized annual summit," said Foreign Secretary during a special briefing following the conclusion of the virtual summit between PM Modi and Morrison.
Shringla informed that a memorandum of understanding (MoU) was signed between Prasar Bharati and the Special Broadcasting Service of Australia.
"It would allow for the exchange of programs, expertise in this sector and would facilitate daily slots on TV channels in Australia for DD India, DD News and DD Sahyadri," he said.
Foreign Secretary informed that a Letter of Intent was signed between the two countries to work towards concluding the migration and mobility partnership agreement on facilitating migration and mobility between the two countries.
"It's something that the two PMs said would be an area of great interest," he said.
Shringla also informed that the two Prime Ministers agreed that they would be increasing cooperation between India's National Investment and Infrastructure Fund and Australia's Pension and Sovereign Fund. "It's important because of our interest in attracting Australian investments in our infrastructure development."
"India will offer the same tax benefits for Australia's Pension and Sovereign Fund in India as is given in Australia. We are willing to match the tax benefits that Australia gives to its Sovereign and Pension Funds. Once they invest in India, they'll get similar benefits," he added.
Earlier today, Prime Minister Narendra Modi and his Australian counterpart Scott Morrison concluded the 2nd India-Australia Virtual Summit. The two leaders committed to closer cooperation in trade, critical minerals, migration and mobility, education.
( With inputs from ANI )
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