In a joint statement issued in New Delhi today, Prime Minister Narendra Modi and his Australian counterpart Malcolm Turnbull agreed to draw on the strengths of each country to create jobs and investment and raise living standards.
"The two Prime Ministers highlighted their shared desire to ensure that Indian Ocean architecture keeps pace with regional issues and addresses emerging threats and challenges in the region", the statement said.
"Not only cricket but commitment to democracy and rule of law connects the two nations".
On defence ties, the statement said both countries remain strongly committed to the breadth of their defence ties and recalled the Special Forces Bilateral Exercise conducted in October 2016.
The Australian prime minister also congratulated Modi on his leadership in setting up of the International Solar Alliance and announced that Australia intends to join the alliance.
The MoUs signed provided for deeper cooperation in areas of health and medicine, sports, environment, climate and wildlife, civil aviation security and cooperation in space technology. "We took forward-looking decisions to further strengthen our partnership, including the decision to soon hold the next round of negotiations on our Comprehensive Economic Cooperation Agreement".
"Both India and Australia recognise the central value of education and innovation in the prosperity of our societies", he said. "Cooperation in education and research is one of the most important aspects of relations between India and Australia", Modi told the media during his ceremonial reception at the President House.
Modi joked about the ongoing IPL in his speech and said, "I hope your visit to India is as productive as it has been for Steven Smith's batting, the other Australian Captain".
"We are working closely with India to meet our respective requirements for the provision of fuel for India's civil nuclear programme", he said, adding Australia was looking forward to supply of uranium to India as soon as possible.
He said Australia was helping India in its water management policy while sharing expertise in the area of renewable energy.
Stating that trade in goods and services between the two sides stood at $20 billion, he said there was scope for increasing this.
The statement also said India and Australia are keen to secure a timely conclusion of a high quality Regional Comprehensive Economic Partnership (RCEP).
Two countries ink six deals, including anti-terror cooperation.
Mumbai: Australian Prime Minister Malcolm Turnbull on Tuesday praised the "ambitious" reform agenda of the Modi government, especially on taxation that has made the duty regime more efficient. Thereafter, External Affairs Minister Sushma Swaraj called on him.
However, no breakthrough was achieved on a comprehensive economic cooperation agreement (CECA) during talks between Prime Minister Narendra Modi and his Australian counterpart Malcolm Turnbull who merely made a decision to direct their respective officials to hold an early round of negotiations for the free trade deal.
Turnbull is on a four-day-long visit to India.