Indo-Australia summit talks today

• Modi to address Oz Parliament after his talks with Abbott
• MoUs on culture and tourism to be signed today
• PM woos Aus investors; says India's policies transparent
• G20 plans massive investment initiatives in India

Canberra: Prime Minister Narendra Modi will meet his Australian counterpart Tony Abbott for summit talks here on Tuesday during which the two countries are expected to sign a series of pacts on social security, transfer of sentenced prisoners and combating narcotics trade.

Modi arrived here on Monday on the third leg of his four-city tour of Australia from Sydney-- a short 30-minute flight-- on a special Air India plane. In a departure from protocol, Modi was received by Foreign Minister Julie Bishop at the Defence Establishment Fairbaim, reflecting the significance attached by Australia to the visit of the prime minister that comes 28 years after Rajiv Gandhi. Foreign dignitaries are usually not received at that level when they arrive in the night.

The deal on social security is expected to make it easier to swap staff between the two countries and is likely to boost two-way investment. The visit of Modi, who arrived in Brisbane last Friday, to attend the G20 summit on the second leg of this three-nation 10-day tour, is aimed at forging a strategic partnership with Australia to promote India's economic goals and security interests, including maritime security. Modi will also address the Federal Parliament after his talks with Abbott. MoUs on culture and tourism are also expected to be signed on Tuesday. Before he embarked on his visit, Modi had said his trip to Australia is both special and historic.

"While we have much in common with Australia, our political, strategic and economic relations have been below potential," Modi said ahead of his visit. Pitching for closer strategic partnership with Australia, he said it will support India's economic goals, "promote our security interests, including maritime security, and reinforce our efforts to foster a climate of peace and stability in our extended continental and maritime neighbourhood."

The significance of Modi's visit could be gauged from the fact from an editorial in a leading daily 'The Australian' said that "it would be hard to overstate the economic, political and strategic significance of the official visit".The edit noted that the overdue end of the ban on uranium sales announced by Abbott in New Delhi in September has done much to place the India-Australia ties on a new footing.

Modi wooed Australian investors to India, saying the environment that is prevailing in the country is "welcoming" and easy to do business, besides having transparent and predictable policies.

"You will begin to find a difference in India," Modi said, asserting that his government is focused on eliminating unnecessary laws and regulations, and making processes easier. The prime minister was speaking at a breakfast meeting hosted by Queensland Prime Minister Campbell Newman where several Australian business leaders were present.

The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth. A Brisbane Action plan released as part of the G20 communique also said that the state of the global economy calls for a comprehensive and coherent policy response that restores near-term demand, removes medium-term supply constraints and builds consumer and business confidence.