"India and Australia have very warm and friendly relations. The two nations have much in common, underpinned by shared values of pluralistic, Westminster-style democracies, Commonwealth traditions, the long-standing people-to-people ties and sporting links. Our economies have many complementarities with the potential to enhance bilateral trade and investment," sources said.
The Strategic Partnership between the two countries was strengthened in 2014 - with the visit of Prime Minister Tony Abbott to India in September 2014, and the visit of PM Modi to Australia in November 2014.
Framework for Security Cooperation between Australia and India signed in November 2014 during the visit of PM Modi to Australia laid the foundation for intensified foreign, defence and security policy exchanges between the two countries. Since then, regular meetings of the institutional dialogues have been taking place, MEA said.