The growing convergence between India and Australia has been driven by concerns about regional stability and security and a shared interest in respect for international law and a rules-based order, external affairs minister S Jaishankar said on Tuesday.
In a virtual address at the Australia-India Leadership Dialogue 2022, Jaishankar said the Indo-Pacific will benefit from the collaboration of the two countries, which work together within the Quadrilateral Security Dialogue or Quad to ensure progress and stability and advance the Indo-Pacific Economic Framework (IPEF).
Noting that India-Australia relations have “shifted gears and moved into a higher orbit”, he said: “But it is really in the realm of politics and strategy that the transformation has been the sharpest. Much of the growing convergence has been driven by concerns about the region’s stability, prosperity and security.
“The deficit in global goods has sought to be addressed by India and Australia working together bilaterally as well as in larger formats. This reflects their shared concerns about respect for international law and a rules-based order.”
The ambitions for bilateral ties were expressed in Australia’s India Economic Strategy Report 2035 and the CII Australia Economic Strategy issued by India. Two-way trade of more than $20 billion and investments at the $25 billion level will be expanded by the Economic Cooperation and Trade Agreement (ECTA) signed in April.
Australia is a major educational destination for Indian students, who number in excess of 100,000, and the Indian community, estimated at 720,000, is a source of strength for both sides, Jaishankar said.
“The Indo-Pacific, in particular, will benefit from the fruits of our collaboration. The Quad, on its part, has emerged as a key platform for ensuring progress, prosperity, stability and security. We are also engaged in advancing the realisation of the Indo-Pacific Economic Framework,” he said.
“And trilaterally, along with Japan, we are working on promoting supply chain resilience,” he added.
After interacting in Asean-led forums and the Indian Ocean Rim Association, Australia has been an early supporter of India’s Indo-Pacific Oceans Initiative (IPOI) and a stronger bilateral relationship allows the two countries to contribute more effectively at the regional and global levels, Jaishankar said.
The greater political confidence and stronger defence cooperation have contributed to Australia’s participation in the Malabar naval exercise along with India, Japan and the US. Australia currently supports the temporary telemetry tracking and command centre for India’s Gaganyaan mission.
“A shared concern about trade reliability and economic volatility encouraged a partnership on the Supply Chain Resilience Initiative, along with Japan. The ECTA was not just a trade deal, it was an outcome of the larger systemic confidence that we now see. And the Tokyo Quad Summit provided an opportunity to confirm, if confirmation was indeed needed, that the incoming Albanese government was just as committed to the bilateral relationship, as indeed to the Quad, as its predecessor,” Jaishankar said.
