Sydney [Australia], October 10 (ANI): Hailing the mutual ties, Defence Minister Rajnath Singh on Friday said India and Australia are standing at a 'pivotal juncture' to reposition their defence relations 'not merely as partners but as co-creators of a secure and prosperous Indo-Pacific.'

Singh said this during his bilateral meeting with Australia's Assistant Minister of Defence Peter Khalil, while co-chairing the maiden India-Australia Defence Industry Business Round Table in Sydney, reaffirming the growing synergy between the two nations across strategic, industrial, and technological domains.

Hailing India-Australia ties, Singh said, 'Today, as we gather under the banner of our Comprehensive Strategic Partnership established in 2020, we stand at a pivotal juncture to reposition our defence relations not merely as partners but as co-creators of a secure and prosperous Indo-Pacific... This partnership has since deepened through regular high-level engagements, including the India-Australia Summit in November 2024 and the 2+2 dialogue held in October 2024. The visit of the Deputy Prime Minister and Defence Minister to India in July 2025 and my ongoing visit to Australia show the deepening relations.'

Highlighting the growth of India's defence industry, he said, 'India's defence production touched Rs 1.51 lakh crore, which is approximately USD 8 billion, last financial year. This is an 18 % increase from the previous year's output and the highest year.'

Singh welcomed Australian companies to partner with the Indian industry to co-develop and co-produce high-end systems, including propulsion technologies, autonomous underwater vehicles, flight simulators, and advanced materials.

'Joint ventures can help build interoperable platforms aligned with the strategic objectives of both our nations...', Rajnath Singh said.

Speaking about India's defence exports, Singh said, 'Our defence exports have reached approximately Rs 23,622 crore or approximately USD 2.76 billion last year. And Indian companies now export to around 100 countries... We have liberalised our foreign direct investment policy in the defence sector. Up to 74 per cent of the FDI is now allowed under the automatic rule and beyond that through the government route, especially when it brings in modern or state-of-the-art technology. Our defence production ecosystem is being continuously liberalised through various policy interventions and compliances, and mechanisms are being simplified to make India more and more business-friendly...'

The Round Table was also attended by India's High Commissioner to Australia, Gopal Baglay; Vice Admiral Sanjay Vatsayan, AVSM, NM, from the Indian Navy; and Air Marshal Ashutosh Dixit, AVSM, VM, VSM, from the Indian Air Force, along with senior officials and industry representatives from both countries. (ANI)