Facing Fund Crunch, Australia to Hire Indian IT Professionals

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posted on 2 years ago — updated on 1 second ago

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Australia has been struggling with a shortage of talent in the IT sector due to the shift to working and learning at home brought about by the Covid-19 pandemic.

Indian and Australian negotiators met on Friday to exchange their respective offers to reduce trade barriers on goods, after swapping proposals on services last week. As per a report by Australian Financial Review (AFR), the Indian minister for trade and commerce, Piyush Goyal, and his Australian counterpart Dan Tehan, has been holding weekly talks to finalise the comprehensive Economic co-operation agreement between the two countries. The agreement is expected to ease the process of importing Indian IT professionals for work in Australia.

Australia has been struggling with a shortage of talent in the IT sector due to the shift to working and learning at home brought about by the Covid-19 pandemic. As per an estimate by the country’s tech council, the shortage of workforce is expected to grow to 2,60,000 workers by the end of 2025. With the signing of this free trade agreement, Australia hopes to cover this gap in the availability of IT professionals with imports from India.

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https://twitter.com/PiyushGoyal/status/1481942837550010368

“India, a tech sector powerhouse, could help fill the void, with the final free trade deal to help Australian firms get access to the best human IT capabilities. This will be a key part of the agreement. India also has a strong interest in their international students and around the area of post-study work rights, so that’s another area we are looking at,” AFR quoted Tehan as saying.

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With talks on, both the countries expect the final framing of the free trade agreement by the end of this year. The move is likely to boost the economic exchange between the countries. As per a report by PTI, the Ministry of Trade and Commerce expects the bilateral trade of goods between India and Australia to grow to $100 billion within five years of the signing of the agreement. The trade-in services are also expected to grow to $15 billion. Similar agreements with UAE and UK are also likely to be signed in 2022.

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