Every country is a safe country till you are a normal human being. The day you start showing off your personal Gizmos .... everything turns sour and you are being targetted.
No. Australia is not a safe country for Indian students. Australians are primarily descendants of the British whose natural tendency is to look down upon at the Indians without caring for the great differences that exist between Indians.
Generally speaking Australia is a safe country ! Due to the recent attacks, I would be careful though and maybe write the embassy or contact a foreign office there to hear their input on it
Every country is a safe country if you are paying attention and not attracting attention to yourself with flashy jewelry or high tech and expensive gadgets.