Australia, India Sign Uranium Export Pact to Deepen Energy Partnership

Australia and India have signed an agreement to facilitate Australian uranium exports for India’s civilian nuclear energy sector, strengthening cooperation in clean energy and strategic resources.

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Australian Prime Minister Anthony Albanese announced the agreement during Prime Minister Narendra Modi’s visit to Melbourne, saying the arrangement would support India’s efforts to expand non-fossil fuel power generation while creating a new export opportunity for Australia’s resources sector.

The agreement is expected to support India’s target of achieving 100 gigawatts of nuclear power capacity by 2047.

Focus Expands Beyond Nuclear Energy

Along with uranium exports, both countries agreed to deepen collaboration in renewable energy, critical minerals and green hydrogen.

Addressing a business event, Modi said the partnership between India and Australia offers significant opportunities across multiple sectors. He noted that Australia’s expertise, capital and natural resources could contribute to India’s ongoing energy transition. He also highlighted the potential for collaboration in low-carbon aluminium production.

Modi invited Australian businesses to increase long-term investments in India’s infrastructure, including roads, railways, ports and urban development projects, describing India as a stable destination for long-term capital.

Investment Commitments Gather Pace

Australia’s largest pension fund, AustralianSuper, announced an additional investment of A$500 million (about $347 million) in India’s National Investment and Infrastructure Fund during the visit.

The investment adds to the growing economic engagement between the two countries as they seek to expand cooperation across infrastructure, manufacturing and energy.

India is currently Australia’s fifth-largest trading partner, after China, Japan, the U.S. and South Korea. Around one million people of Indian origin live in Australia, making the Indian diaspora one of the country’s largest migrant communities.

Civilian Nuclear Cooperation Gets Fresh Momentum

Although India and Australia signed a civil nuclear cooperation agreement in 2014, Australian uranium exports have remained limited because of safeguards related to the peaceful use of nuclear fuel.

The latest agreement reflects progress in implementing that framework and is expected to facilitate uranium supplies for India’s civilian nuclear energy programme under existing regulatory arrangements.

Prime Minister Modi’s Australia visit follows his trip to Indonesia, where India signed agreements covering agriculture and defence cooperation, including the BrahMos cruise missile system. After concluding his engagements in Australia, Modi is scheduled to travel to New Zealand before returning to India.

The uranium export agreement adds another milestone to the expanding India-Australia strategic partnership, with both governments signalling continued cooperation in energy security, trade, investment and emerging technologies.