Editorial: Cricket, trade and more

The deepening bilateral relationship between India and Australia was evident in the bonhomie that marked the ongoing visit of Albanese

Hyderabad: Rivals on the cricket pitch but natural partners in geopolitics. With shared values of democracy, free and open society and love for cricket, India and Australia are coming closer than ever before. The deepening bilateral relationship was evident in the bonhomie that marked the ongoing visit of Australian Prime Minister Anthony Albanese. Marking 75 years of India-Australia friendship, Prime Minister Narendra Modi and Albanese did a lap of honour on a specially designed golf cart before handing over Test caps to the captains of their respective national cricket teams, ahead of the fourth test in Ahmedabad. The announcement of the Australia-India Education Qualification Recognition Mechanism reflects the growing importance being accorded by both countries to bilateral ties in the education sector. This arrangement is aimed at ensuring that the degrees earned by Indian students who have studied in Australia are duly recognised when they return home and it is also expected to facilitate recognition of the students’ Indian qualifications by the Australian authorities. Australia is one of the favoured destinations, along with the United States, Canada and the UK, for Indian students to pursue higher education. These four countries account for nearly 75% of those who went overseas for education last year — up from 60% in 2018. The India-Australia mechanism is a significant step towards resolving the issue of recognising their overseas degrees in the Indian job market. Another significant development is that Deakin University, one of Australia’s top educational institutions, will be the first foreign university to set up an international branch campus at GIFT (Gujarat International Finance Tec) City in Gandhinagar.

This development is likely to benefit Indian students who are unable to study in Australia due to financial constraints. Maintaining high academic standards and offering an affordable fee structure will be the major challenges. Another sign of the deepening ties was the recent India-Australia Economic Cooperation and Trade Agreement signed by the two countries to eliminate tariffs on more than 85% of Australian goods entering India and almost all Indian goods entering Australia. India estimates 10 lakh new jobs as a result of this agreement over the next four to five years. Free trade drives economic growth, improves living standards and builds trust and respect between partners. For a long time, both India and Australia have been part of the Quad group which has Japan and the US as members. This proves Australia is a reliable partner of India in the Indo-Pacific region. India has abundant talent and technology while Australia is endowed with some of the biggest reserves of rare earths, critical for a global supply of semiconductors. Bilateral trade and defence ties are poised to reach the next level under the Comprehensive Strategic Partnership. It’s a win-win for both nations. Cybersecurity and intelligence-sharing are the other key focus areas of India and Australia.