India, Australia to hold 2+2 meet

India, Australia to hold 2+2 meet

Part of: Prelims and GS – II – International Relations 

Context India and Australia will hold the inaugural ‘2+2’ Ministerial meeting in New Delhi. 

• The meeting will be part of Australia’s engagements with regional partners as the Ministers will visit Indonesia, India, South Korea and the United States for Indo-Pacific consultations. 
• These inaugural 2+2 discussions are a cornerstone of the Australia-India Comprehensive Strategic Partnership, which is founded on a shared commitment to a secure, stable and prosperous Indo-Pacific region. 
• The discussion will cover economic issues, cyber security, climate change, critical technology and supply chains.
• The defence cooperation related meeting will also be held with the Indian Defence minister. 

Bilateral economic and trade relationship between India and Australia 

• The India-Australia economic relationship has grown significantly in recent years.
• India’s growing economic profile and commercial relevance to the Australian economy is recognized, both at the federal and state level in Australia.
• India’s exports to Australia stood approximately at US$ 4.6 billion (A$6.1 bn) in 2016 while India’s import from Australia during the same period stood at US$ 11 billion (A$14.6 bn). 
• India’s main exports to Australia are Passenger Motor Vehicle & machinery, Pearls, Gems and Jewellery, Medicaments and Refined Petroleum while India’s major imports are Coal, Non-monetary Gold, Copper, Wool, Fertilizers and Education related services.

News Source: TH