Submissions are being sought by the Australian Government on a new roadmap for Australia’s Economic Engagement with India. The Department of Foreign Affairs and Trade (DFAT) is leading the development of the roadmap, aimed at supporting Australia’s bilateral economic ties with India. The roadmap will “focus and accelerate” Australia’s efforts in the “most prospective possible sectors”.
India was Australia’s fourth-largest export market in 2023 and is projected to be the world’s third-largest economy by the end of the decade.
The roadmap will build on the 2018 India Economic Strategy to 2023 and the 2022 Update. The Discussion Paper also ties partnership with India to delivering on the Government’s A Future Made in Australia initiative.
The importance of economic engagement with India is no secret to the international education sector. India was the number one source of international students to Australia in the vocational education and training (VET) sector, and the number two source in the higher education sector as at March year-to-date (YTD) 2024.
There has been a decline, however, in the commencement data for Indian students in the higher education sector, March 2023 to March 2024 year-on-year. It is possible that this is the result of the current Australian Government crackdown on visa grants, although the VET commencement data does not show the same decline. The other possible reason for the decline is the expected market correction of students who postponed commencing their studies until after COVID.
