Labor's Cook Looks To India - Senator Cook says eduction is a market sector Australia could dominate - Brief Article

Business Asia, August, 2001

INDIA COULD BE Australia's key to being the regional education campus for Asia, the Pacific and the Indian Ocean, Federal Opposition Shadow Trade Minister Peter Cook says.

Senator Cook, who visited India last month to meet government ministers, industry leaders and unions ahead of releasing Labor's "India Initiative" later in the year, said "there is now a political and community consensus that India must open and reform its economy".

"Education stands out as one of our great opportunities," Cook said.

About 60,000 Indian students pay full fees to study abroad, with Australia ranked third on the list of preferred destinations. About 40,000 go to the US, 6000 to the UK and 4500 come to Australia, most in the vocational rather than the university category.

"With economic growth in India, a country of 1 billion people, and with Australia offering quality comparable to both the US and UK at around half their cost, this is a market sector we could dominate," Senator Cook said.

"Education is a virtuous export. Not only is it now Australia's eighth-largest export overall, earning $3.5 billion for the nation last year, it contributes to the economic growth of neighbouring countries by disseminating essential knowledge and skills, and builds cultural understanding and people-to-people networks. More than any other export it helps integrate Australia into our region.

"India has been a neglected relationship for Australia for too long. The result is the image we have of each other is frozen in time. We think of them as a destitute nation of unrelieved poverty, and they think of us as still riding on a sheep's back. Neither stereotype is true. India has the world's largest middle class and Australia is a leading services economy. We complement each other."