India is working together with Australia on a comprehensive economic agreement, with regional security also remaining in both countries' focus, Indian Prime Minister Narendra Modi said Friday.

"Our teams are working on a comprehensive economic agreement between the two countries," Modi told a joint conference with his Australian counterpart, Anthony Albanese.

Furthermore, the Indian premier underlined that the parties had also discussed security in the Indo-Pacific region.

"Security cooperation is an important element of the comprehensive strategic partnership between India and Australia. Today we discussed maritime security in the Indo-Pacific," he said.

Modi thanked his Australian counterpart for inviting him to his country for a summit of the Quadrilateral Security Dialogue (Quad), comprising the United States, Japan, India, and Australia, in May, noting that he had invited his Australian counterpart to the G20 leaders' summit set to be held in New Delhi in September.

Read more: What is the 4-nation Quad?

The Quad, formally known as the Quadrilateral Security Dialogue, began as a loose partnership following the devastating 2004 Indian Ocean tsunami, when the four countries "banded together to provide humanitarian and disaster assistance to the affected region."

The group was resurrected in 2017, reflecting shifting regional attitudes toward "China's growing influence." Both the Trump and Biden administrations saw the Quad as critical to refocusing attention on the Indo-Pacific region, particularly as a counterweight to China's assertive actions. The Quad leaders met virtually in March after their first formal summit in 2021.

The Indian premier also discussed with Albanese the cases of desecration of Hindu temples in some cities throughout Australia, with the Australian premiere assuring his Indian counterpart that the safety and well-being of the Indian community in Australia was one of his government's priorities.

As part of the Quad alliance, India conducted military drills with Japan in January, marking their first bilateral fighter jet training in Japan, a milestone in the two countries' defense and security relations.

The Japan Air Self-Defense Force (JASDF) affirmed that the drills are being held at the military bases of the Air Rescue Wing Hyakuri Detachment in the Japanese prefecture of Ibaraki, as well as the Iruma air base in Saitama Prefecture.

India has provided 150 military troops, four Russian Sukhoi Su-30MKI multirole air fighters, and two US Boeing C-17 Globemaster III big transport aircraft, it added.

During the inaugural 2+2 Foreign and Defense Ministerial meeting in New Delhi in November 2019, the two countries decided to go forward with coordination for their first bilateral joint fighter aircraft exercise in Japan. However, it was postponed because of the COVID-19 epidemic.