The announcement came a day after Prime Minister Scott Morrison and his Indian counterpart Narendra Modi held talks on boosting trade ties and cooperation in key areas including migration, mobility and education during the second India-Australia virtual summit.
Mr Morrison said, “We've made great progress in defence, maritime cooperation, science, technology, clean energy as well, which is something I know that Australia can work together closely with India on, and I'll be delighted today to announce some more initiatives that build on that foundation towards our post-pandemic world.”
Highlights:
- India, Australia on Monday held the 2nd virtual summit; Australia commits $280 mln investment for India
- Australia returns 29 significant artefacts to India, Indian Prime Minister Modi thanks Australia
- Both countries are working on mutual recognition of educational, trade and professional qualifications
Following Monday's virtual meeting, Australia announced $28.1 million investment to launch a Centre for Australia-India Relations to deepen community ties, promote public discussions and policy dialogue, and engage the Indian diaspora.
Australia also committed to investing $17.2 million to extend the , $35.7 million to support cooperation on research, production and commercialisation of clean technologies, critical minerals and energy, and $25.2 million for space cooperation with India.
Australian PM Scott Morrison (L) speaking to Indian PM Narendra Modi during the 2nd Australia-India virtual summit held on 21, March 2022. Source: AAP Image/Jono Searle
Mr Morrison further said the recent meeting of the leaders of the Quad countries "provided an opportunity" to discuss the impact of the Ukraine crisis on the Indo-Pacific region.
"We are obviously distressed at the terrible situation in Europe though our focus is very much on the Indo-Pacific," he said.
Ahead of the second summit, Australia sent back 29 antiquities, primarily sculptures and paintings, to India.
Speaking during the meeting, thanked the Australian government for returning the antiques.
"You have given back these artefacts to us and now we can return them to the places where they belong," he said. Mr Modi said that India’s relations with Australia have made significant progress in recent years.
Indian Prime Minister Narendra Modi has thanked Australia for returning 29 artefacts. Source: AAP Image/Sonu Mehta/Hindustan Times/Sipa USA
"Trade and investment, defence and security, education and innovation, science and technology - in all these sectors we have very close cooperation,” he added.
Mr Modi further highlighted the importance of an early conclusion of a Comprehensive Economic Cooperation Agreement (CECA) and said it will be "crucial for our economic relations, economic revival and economic security".
"There is also a good collaboration going on between us in Quad. Our cooperation reflects our commitment to a free, open and inclusive Indo-Pacific," he said.
In a bid to enhance two-way mobility, the two countries also announced setting up a taskforce to work on a plan for joint recognition of educational, trade and professional qualifications.
The taskforce will address the recognition of online and blended learning, joint degrees and offshore campuses.
on Monday said "The taskforce will pave the way for new opportunities for graduates of both India and Australia to use their qualifications. This collaboration will serve both countries by expanding cooperation in education, and optimising mobility outcomes for Australian and Indian students and graduates, and our educational institutions."
"Improved qualifications recognition arrangements will also underpin trade in professional services between Australia and India," Mr Robert added.
Announcing the details of the on Tuesday, Australian trade minister Dan Tehan said, "Australia’s Indian community is young and highly educated and well represented across services and STEM sectors with strong export potential.”
“Indian diaspora networks can make important contributions to our trade and investment relationship with India, and also to Australia’s international competitiveness generally,” he said while launching the update to the 'Indian Economic Strategy to 2035'.
Australian Trade Minister Dan Tehan. Source: AAP Image/Mick Tsikas
Australia will provide additional investment including $16.6 million to strengthen linkages with India’s key policy and finance institutions and $8.9 million to support enhanced business engagement and an increased Austrade presence in India.
Australia India Business Council NSW president Irfan Malik has welcomed the series of initiatives.
"These initiatives will boost trade engagements significantly, and this will automatically increase people-to-people connections. We have never seen such a level of cooperation between the two sides," he said.
Irfan Malik, president of Australia India Business Council NSW. Source: Supplied by Irfan Malik
"The Indian diaspora will play a key role in setting up these business links and ultimately help in a positive business outcome," he added.
However, the Labor party's Madeleine King has criticised the federal government for further delaying the free trade deal with India.
"Scott Morrison’s Liberals only have themselves to blame for failing to ink a free trade deal with India during Monday night’s leaders’ summit with Indian Prime Minister Modi," Ms King said.
The first virtual summit between the two nations was held in June 2020 in which the relationship was elevated from a partnership to a comprehensive strategic partnership.
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