India-Australia relationship

India-Australia relationship
 

News: The two countries are important partners in the Indo-Pacific and cooperate closely in a wide range of sectors. With Australian PM Anthony Albanese's visit to India, here are some key aspects of the bilateral relationship.
 

How have Historical perspectives evolved?
 The India-Australia bilateral relationship has been underpinned by the shared values of pluralistic, Westminster-style democracies, Commonwealth traditions, expanding economic engagement, and increasing highlevel interaction.
 Secular, and multicultural democracies, a free press, an independent judicial system, and English language, serve as the foundation for closer co-operation between 2 nations.
 

What about strategic ties?
 In June 2020, bilateral relationship elevated from strategic partnership to comprehensive strategic partnership.
 At the 2nd India-Australia Virtual Summit in March 2022, several key announcements were made, including on a Letter of Intent on Migration and Mobility Partnership Arrangement to foster the exchange of skills, and a Letter of Arrangement for Educational Qualifications Recognition to facilitate the mobility of students and professionals.
 

What are other areas of co-operation?
Economic co-operation
 The Economic Cooperation Trade Agreement (ECTA) — the first free trade agreement signed by India with a developed country in a decade — entered into force in December 2022, and has resulted in an immediate reduction of duty to zero on 96% of Indian exports to Australia in value (that is 98% of the tariff lines) and zero duty on 85% of Australia’s exports (in value) to India.
 Bilateral trade was US$ 27.5 billion in 2021; with ECTA, there is potential for it to reach around US$ 50 billion in five years.
 

Defence co-operation
 The Mutual Logistics Support Agreement (MLSA) was concluded during the Virtual Summit in June 2020.
 Australia will host military operations with India, Japan, and the US in the “Malabar” exercises off the coast of Perth in August, and has invited India to join the Talisman Sabre exercises later this year.
 

Education
 The Mechanism for Mutual Recognition of Educational Qualifications (MREQ) was signed on March 2 this year. This will facilitate mobility of students between India and Australia.
 Deakin University and University of Wollongong are planning to open campuses in India. (Link this with Government’s vision of opening Foreign Higher Education Institutions in India)
 

Clean Energy
 The countries signed a Letter of Intent on New and Renewable Energy in February 2022 which provides for cooperation towards bringing down the cost of renewable energy technologies, especially ultra-lowcost solar and clean hydrogen.
 India also announced matching funds of AUD 10 million for Pacific Island Countries under Infrastructure for Resilient Island States (IRIS) and of AUD 10 million for Pacific Island Countries under International Solar Alliance (ISA).