Australia, India strike deal on uranium exports during PM Modi’s visit

Australia and India have signed an agreement allowing Australia to export uranium to India for its nuclear energy industry. Indian Prime Minister Narendra Modi stated this agreement will support India's clean energy objectives and help it meet a target of 100 gigawatts of nuclear energy capacity by 2047. The uranium exports will be for exclusively peaceful purposes and fall under International Atomic Energy Agency safeguards. This arrangement aims to increase India's non-fossil-fuel power capacity, utilizing Australia's significant uranium reserves. The leaders also agreed to enhance defense cooperation and strengthen supply chains for critical minerals.

Australia and India have signed an administrative deal allowing Australia to sell uranium to India for peaceful purposes, ending a long-standing stalemate. The agreement was announced by Australian Prime Minister Anthony Albanese and Indian Prime Minister Narendra Modi following a meeting in Melbourne. Exports of Australian uranium to India had been stalled since 2014 due to concerns about potential weapons use, as India is not a signatory to the Nuclear Non-Proliferation Treaty. Australia, a signatory, has historically refused to sell uranium to non-signatories. India aims to significantly expand its nuclear power capacity by 2047. The leaders also pledged increased defense and security cooperation in the Indo-Pacific.

Australian Prime Minister Anthony Albanese announced a major uranium deal with India during Indian Prime Minister Narendra Modi's three-day visit. This agreement aims to end over a decade of delays in regular uranium shipments for India's nuclear energy sector, with exports intended for peaceful purposes. Both leaders highlighted the strengthening bilateral relationship, emphasizing cooperation in defense and security within the Indo-Pacific region. Modi's visit also includes addressing a large Indian diaspora gathering in Melbourne, with an expected crowd of 30,000. The deal is seen as beneficial for Australia's resource sector and further diversifies the growing ties between the two nations.