Realising the Potential of ‘Maitri’ and ‘Mateship’ : Daily Current Affairs

Relevance: GS-2: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

Key Phrases: Australia-India Deep histories, maitri, mateship. cyber and critical technologies, maritime affairs, defence ties, economic and business links and Quadrilateral cooperation, Technology and research, Focus on students, Focus on Indo-Pacific, bilateral trade.

Why in News?

Deepening investments in Australia-India strategic, economic, and community ties highlight their stronger relationship. Australia is celebrating India’s 75 years of Independence by making the largest single investment in our bilateral relationship.

Deep histories

Australia-India are natural partners because both are each ancient and modern countries and cultures, vibrant and full of energy and optimism.
Australia recognises the depth and diversity of India’s magnificent culture. Australia know the importance of connection to history.
Like India, Australia’s story stretches back tens of thousands of years. Australia’s Indigenous peoples are custodians of the oldest continuing civilisation in the world: which is why the Australian government was delighted to return 29 culturally significant artefacts to the people of India this month.
Even Australian words for friendship have a similar ring: India says maitri, Australians say mateship. Both stand for respect, understanding and equality. Friends looking out for each other.
That is the warm friendship shared between our Prime Ministers, The Hon Shri Narendra Modi and The Hon Scott Morrison MP.
On March 21, the two Prime Ministers held their Virtual Summit and took stock of the remarkable pace we are implementing the Australia-India Comprehensive Strategic Partnership. To drive closer cooperation and regularly review relations, the Prime Ministers also established an Annual Summit mechanism.
Since Australia-India elevated their relationship in 2020, they have advanced practical actions on cyber and critical technologies, maritime affairs, defence ties, economic and business links and Quadrilateral cooperation.
The Virtual Summit marked another milestone as our Prime Ministers announced a range of tangible and practical initiatives spanning the breadth of our shared economic, strategic, and regional interests.
These initiatives are an investment into the promise and potential of our nations. They address the most pressing challenges and opportunities of our time.
Together, they are harnessing the technology, the talent, and the trading spirit of our people to deliver resilience, prosperity, and security.

Technology and research

Australia-India are working on a new and renewable energy partnership, to support the development of technologies such as green hydrogen and ultra-low cost solar. Both are also supporting research and investment to unlock Australian critical minerals for Indian advanced manufacturing.
They will boost collaboration on innovation, science and entrepreneurship, to scale up ideas that address global challenges.
They are also increasing investments into each other countries’ rapidly growing space sectors.
And both are establishing the Australia-India Centre of Excellence for Critical and Emerging Technology Policy — and a Consulate-General — in Bengaluru.
Both governments know that resilience relies on strong economies.
Australia-India have made significant inroads on negotiations on a deal that will open new two-way trade and investment opportunities, build more secure supply chains, and unlock our complementary economies, increasing the flow of goods, services and people.

Focus on students

Australia are investing in India’s talented young people through our new Future Skills Initiative between education and training providers and industry.
This complements the Australian government’s significant new Maitri scholarships and fellowships, giving Indian students and researchers the chance to experience Australia’s world class education system.
Australians value highly the Indian diaspora and student contributions to our community — whether economic, social, or cultural.
Prime Minister Morrison announced a dedicated Centre for Australia-India Relations to deepen that friendship between our communities.

Focus on Indo-Pacific

Australia and India are also working to ensure a peaceful and stable region.
They are each committed to a free and open Indo-Pacific. We are advancing our cooperation all the way from the Indian Ocean to the Pacific Islands.
Last month Australia announced initiatives to enhance Australia’s engagement in the Northeast Indian Ocean in support of India’s natural leadership.
In our defence relationship, both are enhancing information sharing and operational cooperation.
Such arrangements also help both continue delivering quality humanitarian support to the region, seen recently when India helped Australia’s Pacific family, Tonga and Kiribati.
Finally, Australia was saddened at the tragic loss of Chief of Defence Staff General Bipin Rawat last year. Both governments are recognising his contributions by announcing an Australia-India Young Defence Officer Exchange Program named in his honour.

India Australia Trade Relations:

The value of bilateral trade in goods and services between both countries increased from US$10.12 billion in 2007 to US$18.08 billion in 2020.
In 2020, India was Australia’s seventh-largest trading partner and sixth largest export destination, driven by coal and international education. On the other hand, Australia is also an increasingly important destination for Indian exports.
In 2020, India exported US$3.19 billion to Australia. The main products that India exported to Australia are refined petroleum (US$287 million), packaged medicaments (US$277 million), and railway passenger cars (US$166 million).
In 2020, Australia exports to India amounted to US$15.3 billion. The main products that Australia exported to India were coal briquettes (US$12.1 billion), gold (US$604 million), and petroleum gas (US$419 million).
Education remains Australia’s largest service export to India, valued at US$4.46 billion and accounting for around 88 percent of the total in 2020. At the end of 2020, Indian students in Australia numbered 115,137.
The total value of two-way foreign direct investment (FDI) between both countries was valued at US$1.04 billion in 2020.

Way forward:

These investments in strategic, economic, and community ties show what both can achieve when two multicultural democracies join in a spirit of trust and understanding.
Australia knows that in India we have a natural partner who will help build a region where every nation can prosper.
Both are closer than ever and our transformational commitments and collaborations will continue to bring us together. They are realising the potential of our maitri and mateship.
Australia and India are important trading partners, and share a strong desire to further enhance their bilateral trade relationship.
A free trade agreement with Australia would be a boon for Indian businesses, farmers and workers, creating new jobs and opportunities with one of the world's largest and fastest developing economies.
CECA is a potential game-changer in opening opportunities for both Australia and India. It is also an important piece of our post-COVID economic recovery.
Australia and India regards the CECA as “important to India and Australia delivering their vision of a secure and prosperous Indo-Pacific”. Both sides support economic openness and upholding the rules-based trading system and “recognise that strong economies provide the opportunities its citizens seek”.

Source: The Hindu

Mains Question:

Q. “Natural partnership is important to India and Australia for delivering their vision of a secure and prosperous Indo-Pacific”. Critically analyse the statement.