Australia, India strike deal on uranium exports during PM Modi’s visit
Summary
Australia and India have signed a new agreement allowing Australia to export uranium to India for use in nuclear energy. The deal aims to support India’s clean energy goals and will follow international safety rules to ensure the uranium is used only for peaceful purposes.Key Facts
- Australia will export uranium to India to help India increase its nuclear energy production.
- The uranium exports are meant only for peaceful uses, not for making weapons.
- The deal is protected by rules from the International Atomic Energy Agency (IAEA), which monitors nuclear materials.
- India wants to reach 100 gigawatts of nuclear power capacity by 2047.
- Australia holds about 28% of the world’s uranium reserves and wants to trade more with countries other than China.
- India and Australia first made a nuclear cooperation agreement in 2014 but exported little uranium until now due to security concerns.
- The leaders also agreed to work together on defense, critical minerals, and space projects, including a space tracking station on Australian territory.
- India is Australia’s fifth largest trading partner, with almost 38 billion US dollars in trade during 2024-2025.
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