Thank you very much. To Professor Ananth, Professor Peter Coaldrake, other distinguished guests, ladies and gentlemen. Before I address some remarks to the subject matter of my visit to this world famous institute, can I, on behalf of the Australian Government and the Australian people express my shock and sympathy to the Government and the people of India in relation to the terrorist bomb attacks overnight in Benares. The loss of life and the injuries inflicted on so many hundreds of people will be a source of great concern and in many cases, grief, to Indian families. And it reminds all of us of the modern day threat of terrorism. And it reminds all of us of the need to work together in a harmonious, cooperative fashion, wherever we are in the world, to fight the scourge of terrorism. And I have already sent a message to the Indian Prime Minister expressing my concern and that of my fellow Australians at this latest outrage.
The Madras Institute of Technology is certainly one of the premier educational institutions in India and has world acclaim as a centre of technology and the Memorandum of Understanding that will be signed in a few moments is a further earnest of the growing cooperation between Australia and India and most particularly, cooperation in areas of technology, most specifically, information technology.
It builds on an existing level of cooperation. There are some 18 Indian IT corporations operating in Australia. And it further builds on the very strong educational links between our two countries. India sends more postgraduate students to Australia than any other country in the world and Australia is now nudging the United Kingdom and is, as the second largest destination, or most favoured destination of all Indian students, and number three, behind the United States and the United Kingdom. And the significant thing is that the rate of growth of the student flow from India to Australia is quite remarkable and there is no reason why that should not continue. The easy association between our two countries, the growing commercial links, the greatly enhanced political dialogue, the extraordinary growth of the Indian economy, all of these things bode well for an increase in the flow of students coming to India.
It is very important to acknowledge as I do that Indian students and researchers are reaching in areas such as satellite technology, vaccine technology and information technology in a way that is setting an example to the rest of the world. I'll be delighted in a little while to meet Ms Maria Srinivasan who is the Endeavour Asia Scholar from Madras and she will take up here scholarship in the social sciences in Australia later this year.
Australia of course has a very strong heritage herself in scientific research and I take this opportunity of reminding my Indian friends of that this morning lest it be thought that this is in any way one-way traffic. We have seen nine Australians that won Nobel Prizes in sciences, and for a nation of 20 million people, that is no mean achievement. Most recently Professor Barry Marshall and Dr Robin Warren won the 2005 Nobel Prize in physiology and medicine. And right at the moment, the current Australian of the Year Professor Ian Frazer of Queensland who has developed a vaccine to prevent and treat cervical cancer is visiting India.
I announced two days ago the establishment of a strategic research fund for exchange scholarships worth some $25 million and also on the same day a biotechnology memorandum of understanding between our two countries. Now this visit of mine has given me an opportunity to emphasise to the Government and the people of India the commitment of Australia to be a partner for India, along with many other countries in the extraordinary economic and social journey that your country is now travelling. The potential that India has to grab a significant and constructive role in the future of the world and not only the future of this region is without limit and I have been deeply impressed as have all members of a very senior business delegation travelling with me, we've been deeply impressed at the progress made by India, the determination of the people of India to play that very constructive and cooperative role in the future of the region and the future of the world.
Australia's own links with India are well known and often spoken of. They are links of language, of history, of shared institutions, of shared sporting endeavour and shared sporting competition. And as a further token of the Australian Government's commitment to build on the relationship I want to announce this morning that Australia will establish an Australian Consulate General here in Chennai and the person appointed to this post will perform the roles of both Consul General and Austrade Trade Commissioner for South India. This consulate will substantially enhance the services provided by the Australian Government to increasing numbers of Australian visitors, particularly in business, to South India. And this post is emblematic of the growing commitment of Australia not only to India generally, but most particularly, to South India.
Can I express my thanks to the students of the Institute for your warm welcome this morning. Politicians visiting institutes and universities in Australia are often, how shall I put it, colourful occasions and I can only to say to all of you that I welcome very much the warmth of your welcome. I commend this Institute for its excellence, I commend it for what it has produced, who it has produced and I hope the MOUs that are signed this morning will add further to the academic exchanges between our two countries. We are very proud of the quality of Australian tertiary institutions and Professor Peter Coaldrake from Queensland will be signing one of the MOUs and amongst the travelling parties are other senior academics within Australia from other universities and I am especially delighted that this morning, this visit brings together some of the great educational institutions of our two countries.
I wish the Madras Institute of Technology well. I know it will play a major role in the unfolding story of the remarkable contribution of modern India to the 21st Century. Thank you.
[ends]