Hiroshima: Prime Minister Narendra Modi on Saturday highlighted the importance of Quad (Quadrilateral Security Dialogue, a group of four countries - US, Australia, India, and Japan) while addressing concerns over Chinese assertiveness in the Indo-Pacific.

Addressing Quad leaders US President Joe Biden, Australian PM Anthony Albanese and Japanese PM Fumio Kishida, PM Modi said, "There is no doubt at all about the fact that the Indo-Pacific region is the engine for global trade, innovation and development. We agree that the security and success of the Indo-Pacific is important, not just for this region, but, for the entire world."

He also said that Quad has emerged as a key platform to ensure peace, stability and prosperity in the Indo-Pacific and the coalition is moving forward on the basis of constructive agenda and democratic principles.

"With united efforts, we are giving practical dimension to our vision for a free, open and inclusive Indo-Pacific," he said.

"We are moving forward with a constructive agenda based on shared democratic values through our shared efforts. We are giving a practical dimension to our vision - strategic technologies, reliable supply chain, health security, maritime security, counter-terrorism and constructive partnership is growing. Many countries and groupings are announcing the vision for Indo-Pacific. In today's Summit, we will get a chance to discuss the inclusion of the entire region and people-centric development," added PM Modi at the Quad Summit in Hiroshima.

PM Modi said that he was very pleased to be taking part in this Quad Summit and to be among friends. "The Quad group has established itself as an important platform for peace, stability and prosperity in the Indo-Pacific," he added.

PM Modi also said that India is willing to host the next Quad Summit in 2024.

"We will be happy to host the Quad summit in India in 2024," PM Modi said in the opening remarks of the Quad meeting held on the sidelines of a Group of Seven Summit (G-7) meeting in the Japanese city of Hiroshima.

It was originally scheduled to take place in Sydney on May 24. However, it was decided to hold the Quad summit in Hiroshima after President Biden called off his trip to Australia.

Meanwhile, Australian Prime Minister Anthony Albanese said he was delighted to be among close friends again.

"Standing together for an open, stable, secure, and prosperous Indo-Pacific region. A region where sovereignty is respected and all countries large and small benefit from the regional balance that keeps the peace, respect for the leadership of regional institutions, including ASEAN, the Pacific Island Forum and the Indian Ocean RIM Association is central to our approach," said Albanese.

"I am proud to stand with my Quad partners in Hiroshima today. Together we will seize the opportunities ahead of us, and use our collective strengths to meet the challenges we face," tweeted Albanese.

He also said that Quad will be releasing a vision statement tonight.

"Our vision statement that we will release tonight sets out the principles for our engagement in the region. Through the Quad's ...practical agenda we are taking actions to address shared challenges. Together we are leveraging a collective strength and offering support to the region which will be enhanced by the outcomes we hope to agree on tonight," said Albanese.

"Our shared vision for an open, stable and prosperous Indo-Pacific will help us build a better future for our people and the region. I look forward to strengthening our partnership," he added.