India and Australia on Tuesday signed a bilateral agreement on social security, which aims to strengthen people-to-people contacts, facilitate and regulate regulations between the two countries with respect to social security benefits and coverage.
The agreement was signed between Indian High Commissioner in Australia Biren Nanda and Australian Social Services Minister Kevin Andrews.
The agreement will provide for social security and superannuation benefits for those who have been residents of the other country on basis of equality of benefit, export of benefits and avoidance of double coverage.
It will also lead to greater economies and promote the flow of professionals.
A total five MoUs have been signed between India and Australia during Prime Minister Modi's visit to the country from November 16 to November 18 in Brisbane, Sydney and Canberra respectively.
Prime Minister Modi, who was in Canberra today, has now left for Melbourne and after that he will depart for Fiji for the third leg of his three-nation, 10 day trip.