New Delhi: Prime Minister Narendra Modi on Monday said that cooperation between India and Australia increasing at a rapid pace in areas of critical minerals, water management, and renewable energy.


Speaking to his Australian counterpart Scott Morrison at the second India-Australia virtual summit, PM Modi stated that the collaboration between the two nations reflects their commitment to free, open and inclusive Indo-Pacific.


ALSO READ | India-Australia Relations: 29 Antiquities Return To India From Australia Ahead Of PM Modi-Scott Morrison Summit


"In our last virtual summit, we had given our relationship the form of a comprehensive strategic partnership. I am happy that today we are establishing the mechanism of the annual summit between the two nations," PM Modi said, as quoted by news agency ANI.


He said that the summits will prepare a structural system for regular review of India-Australian relations. "In the past few years, our relations have seen remarkable growth. Trade and investment, defence and security, education and innovation, science and technology - in all these sectors we have very close cooperation," the Prime Minister highlighted.


Ahead of the virtual summit, as many as 29 antiquities, including on the themes of Lord Shiva and his disciples, Lord Vishnu, and the Jain tradition, were repatriated to India by Australia.


Prime Minister Modi inspected the 29 antiquities, ranging in 6 broad categories as per themes – Shiva and his disciples, Worshipping Shakti, Lord Vishnu and his forms, Jain tradition, portraits, and decorative objects.


He expressed gratitude towards his Australian counterpart for the same saying, "I thank you for the initiative to return the Indian antiquities. Antiquities sent by you include hundreds of years old artifacts and photos that were illegally taken out of Rajasthan, West Bengal, Gujarat, Himachal Pradesh, and other states. On behalf of all Indians, I thank you."


Meanwhile, he also stated that an early conclusion of talks for the Comprehensive Economic Cooperation Agreement is key for economic ties between the two countries.


ALSO READ | Second India-Australia Virtual Summit Starts Today, Australia To Announce Rs 1,500 Crore Investment


Tragic Loss Of Lives Underlines Importance Of Holding Russia To Account: Australian PM Scott Morrison


In his opening remarks, Australian Prime Minister Scott Morrison said that Russia needs to be held accountable for the tragic loss of lives in Ukraine following its "terrible" invasion of that country.


Mentioning the recent Quad meeting, he stated: "Our region is facing increasing change and much pressure and I think our Quad leaders call recently gave us the opportunity to discuss Russia's unlawful invasion of Ukraine."


"But it also gave us the opportunity to discuss the implications and consequences of that terrible event for our own region in the Indo-Pacific and the coercion and the issues that we face here," he added, as quoted by ANI.


The Australian Prime Minister also said, "We are obviously distressed at the terrible situation in Europe though our focus is very much on Indo-Pacific."


Unlike its Quad partners -- the US, Japan, and Australia -- India has not condemned the Russian invasion of Ukraine and has been maintaining that the crisis should be resolved through dialogue and diplomacy.


Australia on Sunday said the Quad member countries have accepted India's position on the Russian invasion of Ukraine and that no country would be unhappy as Prime Minister Narendra Modi has been using his contacts to call for an end to the conflict.


(With Agency Inputs)