Prime Minister Narendra Modi and his Australian counterpart Scott Morrison on Thursday held a virtual summit to discuss ways forward to further deepen bilateral ties in sectors such as healthcare, trade and defence. It's the "perfect time and perfect opportunity" to further strengthen the relationship between two nations, PM Modi said in his opening remarks. "There are endless opportunities to strengthen our friendship, it also brings with it challenges to turn this potential into reality, how our relation becomes a factor of stability for the region," PM Modi said.

The prime minister also said that India was committed towards expanding its relations with Australia on a wider and faster pace, noting that it is important not only for the two countries, but also for the Indo-Pacific region and the world. Modi also expressed condolences to the coronavirus affected people in Australia.  It is the first time that Modi held a bilateral virtual summit with a foreign leader.

"Glad to be joining the first India-Australia Virtual Summit with you, PM @ScottMorrisonMP. India-Australia ties have always been close," Modi had earlier tweeted. "As vibrant democracies, from Commonwealth to cricket to even cuisine, our people-to-people relations are strong and the future is bright," he said.

"The virtual summit will be an opportunity for the two leaders to review the broad framework of the relationship, in the context of growing ties between India and Australia, and to discuss their respective responses to the COVID-19 pandemic," the Ministry of External Affairs said in a statement. The Australian PM was to visit India this year which was cancelled due to the coronavirus crisis. The two prime ministers have already met on four occasions on the sidelines of multilateral meetings in the last two years.