PM Modi spoke at a community event in Sydney

He emphasised the solid foundations of trust and respect that exist between India and Australia.
He attributed the success of this partnership to the Indian diaspora.
Over 21,000 individuals attended the event, which aimed to strengthen cultural links and was attended by Australian Prime Minister Anthony Albanese.

Background on India-Australia Relations

In recent years, the India-Australia bilateral relationship has evolved into a friendly cooperation on a healthy trajectory.
The two countries share many principles, including pluralistic, Westminster-style democracies, Commonwealth traditions, increased economic ties, and so on.
Strong, vibrant, secular, and multicultural democracies, a free press, an independent legal system, and the English language are among the many similarities.

Historical Perspective

Early colonisation: Historical relations between India and Australia began shortly after European settlement in Australia in 1788.
A penal colony: The British East India Company controlled all trade to and from the convict colony of New South Wales via Kolkata.
Diplomatic connections: Prior to independence, India and Australia maintained diplomatic contacts with the opening of the India Trade Office in Sydney in 1941.
Expansion of relations: The end of the Cold War, combined with India’s willingness to implement major economic reforms in 1991, offered the first positive step towards the expansion of bilateral relations.

Various dimensions of ties

[A] Political partnership

G-20 ASEAN Regional Forum (ARF), IORA (Indian Ocean Rim Association), Asia Pacific Partnership on Climate and Clean Development, East Asia Summit, and The Commonwealth QUAD (Quadrilateral Security Dialogue) are all organisations that both countries are members of.
Australia has been a staunch supporter of India’s bid for APEC (Asia Pacific Economic Cooperation) membership.
Australia enthusiastically welcomed India’s accession to the MTCR (Missile Technology Control Regime).

[B] Trade and Economy

5th largest trade partner: India is Australia’s 5th largest trade partner in terms of products and services.
Massive trading volume: According to the Australian government, two-way trade between India and Australia was worth A$ 24.3 billion ($18.3 billion) in 2020, up from $13.6 billion in 2007.
Uranium exports: After several attempts, Australia finally allowed uranium exports to India in 2016.
R&D: The Australia-India Strategic Research Fund (AISRF), founded in 2006, fosters collaboration between Indian and Australian scientists on cutting-edge research.

[C] Cultural ties

P2P ties: There is a longstanding people-to-people ties, ever increasing Indian students coming to Australia for higher education.
Growing tourist and athletic linkages, particularly cricket and hockey, have played an important role in further developing bilateral relations between the two countries.
Skilled labour: India is a major source of skilled immigrants to Australia.
Indian students: The number of Indian students studying at Australian universities continues to expand, with roughly 105,000 students now enrolled.
Diaspora: After England, India will be Australia’s second largest migrant group in 2020.

[D] Strategic Partnership

Both countries engage in bilateral marine exercises. AUSINDEX. For the first time, the Indian Air Force took part in the Exercise Pitch Black in Australia in 2018.
Both countries’ Foreign and Defence Ministers agreed to meet in a ‘2+2’ arrangement.
The Prime Ministers of India, Australia, Japan, and the United States attended the first-ever Quad Leaders’ Virtual Summit on March 12, 2021.
During then-Prime Minister Tony Abbott’s visit to India in September 2014, the two countries signed a Civil Nuclear Cooperation Agreement.
Both countries engage in bilateral marine exercises. AUSINDEX. For the first time, the Indian Air Force took part in the Exercise Pitch Black in Australia in 2018.
Both countries’ Foreign and Defence Ministers agreed to meet in a ‘2+2’ arrangement.
The Prime Ministers of India, Australia, Japan, and the United States attended the first-ever Quad Leaders’ Virtual Summit on March 12, 2021.
During then-Prime Minister Tony Abbott’s visit to India in September 2014, the two countries signed a Civil Nuclear Cooperation Agreement.

The importance of the ties

COVID Management: Australia is one of the only countries that has successfully combated COVID-19 by “controlled adaptation,” which has resulted in the coronavirus being suppressed to very low levels.
STEM: The Australian agriculture sector possesses the required R&D capability, expertise, and technical knowledge, from farming practises to food processing, delivery, and distribution to customers.
Natural resources: Australia is abundant in natural resources, which India’s expanding economy requires. It also has enormous resources in higher education, scientific and technical research.

Collaboration on a global scale

Australia backs India’s bid for a seat on an expanded United Nations Security Council.
APEC: Australia is a key role in APEC and strongly supports India’s inclusion in the body. Australia joined SAARC as an observer in 2008.
There are certain irritants in ties.
Trade imbalance: As a result of the India-Australia Free Trade Agreement, India’s trade deficit with Australia has grown since 2001-02. It is also a point of contention in the present RCEP negotiations, which India has withdrawn from.

Collaboration on a global scale

Australia backs India’s bid for a seat on an expanded United Nations Security Council.
APEC: Australia is a key role in APEC and strongly supports India’s inclusion in the body. Australia joined SAARC as an observer in 2008.

There are certain irritants in ties.

Trade imbalance: As a result of the India-Australia Free Trade Agreement, India’s trade deficit with Australia has grown since 2001-02. It is also a point of contention in the present RCEP negotiations, which India has withdrawn from.
High tariff on agricultural and dairy products in India: India has a high tariff on agricultural and dairy products, making it difficult for Australian exporters to export these things to India.
Non-tariff obstacles in Australia: At the same time, India faces non-tariff barriers, and its trained workers face discrimination in the Australian labour market.
Visa Policy: India wants greater freedom of movement and simplified visa requirements for its IT professionals, which Australia opposes.
The future of the Quadrilateral Consultative Dialogue (the “Quad”), which includes India, Australia, Japan, and the United States, has been called into question by an Australian lobby.
Nuclear hesitancy: Given India’s nuclear status, reaching agreement on non-nuclear proliferation and disarmament has been difficult.
Racism against Indians: There has been an increase in racist attacks against Indians in Australia.

The way forward

Upgrading the 2+2 format: It is also prudent for New Delhi and Canberra to raise the ‘two plus two’ structure for talks from the Secretary level to that of Foreign and Defence Ministers.
Removal of trade barriers: Both countries’ need to resolve WTO issues involving the Australian sector might be a major hindrance.
China must be balanced: A ‘engage and balance’ China strategy is the only viable alternative to containment.

Source: https://economictimes.indiatimes.com/news/india/pm-modis-powerful-speech-in-sydney-10-highlights-that-captivated-the-audience/articleshow/100445776.cms