During the second India-Australia Annual Summit, held on the sidelines of the G20 Summit in Rio de Janeiro, India and Australia launched their Renewable Energy Partnership. The partnership, arising from discussions between Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese, is designed to boost bilateral investment in renewable energy sectors. This initiative includes collaboration in key areas such as solar photovoltaic technology, green hydrogen development, energy storage solutions, and workforce training for the renewable energy industry. The leaders of both countries reaffirmed their joint commitment to expediting climate action through collaborative ventures and leveraging their respective strengths. Additionally, there were discussions on reinforcing defence and security cooperation, with plans to enhance the Joint Declaration on Defence and Security Cooperation in 2025. They also outlined initiatives for joint maritime security collaboration and ongoing reciprocal aircraft deployments to enhance operational understanding. Emphasizing the significance of an open and stable Indo-Pacific region, the prime ministers highlighted the necessity of upholding freedom of navigation and overflight in compliance with international law, especially the UN Convention on the Law of the Sea. Modi underscored the existing collaboration between the two countries in fostering regional peace and stability. The inauguration of new diplomatic missions - the Australian Consulate-General in Bengaluru and the Indian Consulate-General in Brisbane - is set to fortify the bilateral relations by facilitating increased trade, investment, and cultural exchanges. The presence of a substantial Indian diaspora in Australia, with nearly 976,000 individuals of Indian origin recorded in the 2021 census, demonstrates the growing connections between the two nations.