During his four day visit, Mr Albanese will be visiting Ahmedabad, Mumbai and New Delhi.
He will be accompanied by the Trade and Tourism Minister Don Farrell and Resources Minister Madeleine King. A delegation of senior Australian business leaders will also be a part of this visit.
“This will be my first visit to India as Prime Minister and I look forward to reinforcing the strong bond between our two countries," the Prime Minister said.
“Our relationship with India is strong but it can be stronger. It is underpinned by our Comprehensive Strategic Partnership, which underscores a joint commitment to working together to enhance our defence, economic, and technological interests."
“A stronger India-Australia partnership is good for the stability of our region. It also means more opportunities and more trade and investment, strengthening our economies and directly benefiting our people.”
“As we look to the future, India will continue to be an important partner and close friend to Australia. I look forward to hosting Prime Minister Modi in Australia mid-year for the Quad Leaders’ Summit and to visiting India again in September for the G20 Leaders’ Summit.”
During his visit, Mr Albanese will discuss trade and investment, renewable energy, technology, defence and security cooperation and will also highlight strong educational and cultural ties.
The business delegation will participate in the Australia-India CEO Forum in Mumbai, discussing trade and investment opportunities opened up by the recent Australia-India Economic Cooperation and Trade Agreement and future areas of business to business collaboration with their Indian counterparts.
Mr Albanese will also join Mr Modi at the Fourth Test Match of the Border-Gavaskar Trophy in Ahmedabad.
"A shared passion for cricket is a hallmark of our long-standing friendship, a relationship that has been enriched by generations of Indian Australians," the Prime Minister office said in a statement.
According to Amitabh Mattoo, former director of the Melbourne-based think tank Australia India Institute (AII), the relationship between the two sides has reached a new level today and both governments are working on strengthening it at all levels.
"There was a time when India's importance in Australia and to its leadership didn't matter, but now things have changed significantly," Mr Mattoo said adding that India will be welcoming Mr Albanese with great enthusiasm.
"Canberra today is genuinely interested in developing relations with India and its no more about sending any signals to China," Mr Mattoo added.
However, Dr Meera Ashar, director of the Australian National University's South Asia Research Institute, doesn't expect the PM's visit to be 'magical' for the relationship.
"India and Australia have a superficial understanding of each other. In order to gain a deeper understanding, we need study centres that provide an in-depth knowledge of India's history, language, and culture.," Dr. Ashar said.
"But, these efforts to build stronger ties with India are in the right direction, even though they have taken a long time," she added.
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