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