Diplomatist Magazine Diplomatist March 2019 | Page 23

SPECIAL REPORT
the former Secretary of the Department of
Foreign Aff airs and Trade and former High
Commissioner to India and commissioned by
Prime Minister Malcolm Turnbull. The report
provides a roadmap for Australia to engage
with India as a top priority economic partner
over the next two decades. This strategy
justifi es the engagement of India as the fastest
growing major economy, set to become the
most populous nation and the third largest
economy by 2035. It prioritises the economic
and trade opportunities in India by linking
Australian business to create a blueprint
for India’s economic growth, matching
Australian strengths to Indian priorities.
Certainly, India’s gigantic scale is enough
to encourage Australia which has much
to off er to the Indian economy, the fastest
growing major economy in the world. In
addition to the economic convergence, the
dynamics for enhanced comprehensive India-
Australia relations include growing people-
to-people interaction, shared commonwealth
legacy, common political values and shared
strategic interests in the Indo-Pacifi c.
Both economies complement each other.
India’s immense market potential needs to
be tapped. Education is likely to continue as
a major component but it is the energy and
resources sector which is going to be a major
driver. India’s mounting energy crisis needs
has pushed it to explore a range of energy
sources.
Education to continue as a fl agship
sector
The education sector has been the main
component of India-Australia relations.
Education continues to be a sector driving
Australia-India relations. India’s higher
education institutions have been struggling
to compete at the global level. This poses
a challenge in skilling 400 million young
Indians. Unsurprisingly, over the past decade,
Australia has emerged as the second top
education destination for Indian students
and the Indian government has also taken
measures to engage Australia in its education
and training projects. Education will continue
to be a driving sector in Australia-India
relations.
Indian Diaspora as a catalyst for
development
The Indian community of more than
700,000 has begun to contribute to Australia’s
multicultural society and economy. Indian-
Australians form the second highest number
of taxpaying immigrants after British-
Australians.
The role that the Indian Diaspora is
playing in bridging the gap between the
country of their immigration and India is
exemplary. This is visible especially in
the lobbying eff orts of India-Americans in
facilitating US-India relations. Over the past
two decades in the post-Cold War era, the
Indian-American community has actively
lobbied for creating a positive perception
about India in the US and for the betterment
of US-India relations, which is pitched as
the defi ning partnership of the 21st century.
But in Australia’s case, notwithstanding
the shared values and the Commonwealth
legacy, economic relations have yet to attain
potential.
Tapping the immense energy potential
India’s energy needs continue to mount.
This is unstoppable given the growth of the
economy and consumer needs. This also
The education sector has been the main component of India-
Australia relations. Education continues to be a sector driving
Australia-India relations. India’s higher education institutions
have been struggling to compete at the global level.
Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 3 • March 2019, Noida • 23