The "Australia-India Education Qualification Recognition Mechanism" has been completed, according to an announcement made on Wednesday by Australian Prime Minister Anthony Albanese.

While in India, Albanese spoke at a programme to formally announce that Deakin University in Australia would be establishing an international branch campus at GIFT City in Gandhinagar, Gujarat.

Our bilateral relations in the field of education have undergone a major development. I'm happy to inform you that the Australia-India Education Qualification Recognition System has been completed, he said.

"Thanks to this new mechanism, your hard-earned degree will be recognised when you return home if you are an Indian student who is studying or has previously studied in Australia. Or you'll feel more confident that your Indian degree will be accepted in Australia if you're a part of the 500,000-strong and growing Indian diaspora in Australia, he said.

According to Albanese, it is the most extensive and audacious agreement that India has ever reached with any nation.

It opened up business possibilities for Australian education providers to provide Indian students with cutting-edge, more accessible education. And it gives educational organisations a strong foundation on which to think about fresh collaborations, he added. The visiting prime minister continued, "It is a fantastic piece of work that will have really concrete benefits.

A new scholarship for Indian students who want to study in Australia was also revealed by him.

“I am pleased to announce a new scholarship offering -- the Maitri scholarships. This is for Indian students to study in Australia for up to four years. The scholarships are part of the wider Maitri programme that seeks to boost cultural, educational and community ties between Australia and India,” Albanese said.

Gujarat Chief Minister Bhupendra Patel and Governor Acharya Devvrat were also present on the occasion.