New Delhi, Sep 5 : Australian Prime Minister Tony Abbott said here on Friday that he and Prime Minister Narendra Modi both wish to be known as the infrastructure Prime Ministers.

"Both PM Modi and I wish to be known as infrastructure PMs and the G20 will focus on mobilizing private capital to address the world's infrastructure deficit," PM Abbott said while addressing a Business Meet in New Delhi.

"As countries that believe in private sector led growth, both Australia and India will be in a position to lead by example at the coming Brisbane G-20 leaders' summit in committing to policies for an extra two percent growth over the next five years," he added.

Talking about the two-way trade between the two countries, Abbott said, "Both India and Australia want to boost two-way trade and investment and I hope that the comprehensive economic partnership with free trade negotiations between our countries will be concluded at the latest by the end of 2016."

"Last year, two-way trade between Australia and India was only 15 billion dollars and Indian investment in Australia is well under 20 billion dollars," he added.

Abbott also said that he wished to revitalize the friendship between India and Australia saying that there has never been a better time to revitalize this friendship that has usually been warm but has often been under-developed.

Pressing upon the need for both the countries to be more ambitious, the Australian PM said that India was their largest or next largest source of immigrants and overseas students.

Moreover, talking about the provision of student and working visa for India students wishing to come to Australia, Abbott said, "My government is streamlining student visa arrangements and working visa arrangements to make it easier for Indians to study and work in Australia."

During the business meet, Tony Abbott also confirmed that he will sign the nuclear cooperation agreement in the capital with his Indian counterpart Narendra Modi that will finally allow Australian Uranium sales to India.

Earlier today, Abbott, who is on a two day tour of India, met External Affairs Minister Sushma Swaraj, prior to which he also received a Guard of Honour at the President House. He also paid a tribute at the 'Amar Jawan Jyoti' in New Delhi.

He arrived in Mumbai on Thursday where he launched the New Colombo Plan at the Mumbai University, and later reached New Delhi where he is scheduled to hold high level talks with Prime Minister Narendra Modi today.

Abbott will also meet President Pranab Mukherjee and Vice President Hamid Ansari today. (ANI)