India and Australia enjoy historically excellent bilateral relations. And this friendship has been further strengthened by the recently signed Free Trade Agreement between the two countries, which will enter into force on December 29th. Citing the same, Fiona Wong, partner and corporate immigration attorney at Gilton Valeo Lawyers, said in an exclusive conversation with Mint that the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) will continue to grow over the next few years. said it opens up exciting immigration and visa possibilities. She also hinted that employment is likely to return. “Immigration has been and will continue to be a key driver of Australia’s economic development,” she said. Read the full interview here.
How is an India-Australia FTA likely to open up new immigration possibilities between the two countries?
The Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) includes mobility and immigration outcomes that promote human relations and cultural exchanges between Australia and India and support trade and business. Combining India’s technology, talent pool and manufacturing capabilities with Australia’s natural competitive advantages in land, agriculture, natural resources and infrastructure, these countries seem a perfect match for each other.
An India-Australia FTA could look like this:
- Facilitate the movement of skilled technicians between the two countries
- Amendments to Australian domestic tax law to encourage Indian technology services firms to expand into Australia
- Providing new opportunities for alumni and working holiday makers to fill skills gaps and contribute to Australia’s tourism
- Promote mutual exchange of knowledge between nations
What is the important thing you are looking forward to?
AI-ECTA provides support to skilled service providers, investors, skilled workers, business travelers, alumni and tourists in both Australia and India. Here’s what to look forward to:
- Australia grants 1,000 Work and Holiday (subclass 462) visas per year to Indian citizens aged 18-31.
- Indian graduates with a First Class Honors Australian Bachelor’s Degree are extended from two to three years in Science, Technology, Engineering or Mathematics (STEM) and Information and Communication Technology (ICT) sectors.
- Possibility of Visa Validity Extension for Temporary Sponsored Work Visas
- The consequences of these important immigration changes will greatly contribute to both workforce requirements and tourism in the post-Corona recovery.
- There are talks from trade groups that labor market test waivers may be available, but this does not appear to have been a negotiated point in the agreement.
After the FTA, is there a possibility that work visas will be issued more?
Indeed, immigration is and will continue to be a key driver of Australia’s economic development for decades to come. Australia’s commitment to India in AI-ECTA will enhance mobility and certainty for Indian graduates, workers and vacationers and business travelers.
Which sectors are likely to hire more if such an agreement is signed?
Technology, telecommunications, engineering, construction, tourism and business services.
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