The historical bilateral relations between India and Australia are pretty cordial. With the two nations’ recent signing of a free trade agreement, which will take effect on December 29th, this friendship has grown even stronger.
Fiona Wong, a partner at Gilton Valeo Lawyers and a corporate immigration lawyer, cited this in an exclusive interview with Mint, where she stated that the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) opens up exciting immigration and visa possibilities and that the upcoming year, we will be more present in Australia, particularly in sectors like technology, telecommunications, engineering, etc. According to Wong, migration has been and will continue to be a major force in Australia’s economic growth.
When asked about, how India-Australia FTA is likely to open up new immigration possibilities between the two countries? She said that the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) incorporates mobility and immigration outcomes that will encourage trade and business between Australia and India as well as interpersonal relationships and cultural exchange.
The two nations appear to be a perfect fit when you combine India’s technology, skill pool, and manufacturing capacity with Australia’s inherent competitive advantages in the land, agriculture, natural resources, and infrastructure.
According to experts, The India-Australia FTA will likely facilitate easier movement of skilled tech workers between the two countries. It will promote Indian firms providing technical services to expand to Australia due to the amendment of Australian domestic tax law.
The experts believe that the agreement will also provide new opportunities for graduates and working holidaymakers to fill skill shortages, and contribute to tourism in Australia. Furthermore, this will prove to be a key aspect in promoting the reciprocal exchange of knowledge between countries.
The AI-ECTA will offer assistance to skilled service providers, investors, workers, business visitors, graduates, and tourists from both Australia and India. Indian nationals between the ages of 18 and 31 will be eligible to apply for 1,000 Work and Holiday (Subclass 462) visas per year from Australia.
In the fields of science, technology, engineering, or mathematics (STEM) and information and communications technology (ICT), the two-year period for Indian graduates with an Australian bachelor’s degree with first-class honours will be increased to three years.
There might be a possible extension of the temporary sponsored work visa’s validity period. The results of these large immigration changes will have a considerable impact on the need for workers as well as tourists during the post-COVID recovery. The industry’s leading organisation has suggested that there might be exemptions from labour market testing, but this doesn’t seem to be a topic that was bargained over in the agreement.
Fiona was asked if we are likely to see an increase in work visa issuance following the FTA.
To which she replied, “Absolutely, migration is a key driver of Australia’s economic development, and will continue to be so in the decades ahead. Australia’s commitments to India in the AI-ECTA will provide enhanced mobility and certainty for Indian graduates, work and holidaymakers, and business visitors.”
Experts suggest that if such an agreement is signed, then sectors like technology, telecommunications, engineering, construction, tourism and business services are likely to hire more.
