The report cited numerous opportunities for developing Australia's cultural, strategic, defence, business and trade relationship further, Parke said.

The report comes in the backdrop of a string of attacks on Indian students in Australia. Nearly 100,000 students from India are enrolled in various courses in this country.

'It is heartening to see the overwhelming commitment of the Australian community at all levels to the safety and well-being of Indian students, visitors and migrants within our community.

'With the improved understanding both within and between our nations that has arisen out of these unfortunate and regrettable incidents, it is hoped that India and Australia will continue to develop and enhance an already significant bilateral relationship,' it read.