Part of: Prelims and GS – II – International Relations
ContextIndia 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.
