Australia and India have signed a landmark agreement allowing Australia to export uranium to India for peaceful nuclear energy production, marking a significant step in strengthening economic and strategic ties between the two countries.
The agreement was reached during Indian Prime Minister Narendra Modi's official visit to Australia, where he held talks with Australian Prime Minister Anthony Albanese in Melbourne.
Under the deal, Australian uranium will be supplied exclusively for India's civilian nuclear energy programme, helping the country achieve its target of generating 100 gigawatts of nuclear power by 2047. The agreement also expands cooperation in renewable energy, critical minerals, and green hydrogen.
Prime Minister Albanese described India as one of Australia's closest partners, saying the agreement would boost clean energy development while creating new opportunities for Australia's mining and resources sector.
Prime Minister Modi said the partnership presents historic opportunities for both nations, encouraging Australian businesses to increase long-term investments in India's infrastructure, including roads, railways, ports, and urban development.
Australia's largest pension fund, AustralianSuper, also announced an additional investment of A$500 million in India's National Investment and Infrastructure Fund, highlighting growing investor confidence in the Indian economy.
Security was tightened in Melbourne ahead of a public event where Modi was expected to address thousands of members of the Indian community. While a small group of anti-immigration protesters demonstrated outside the venue, they were heavily outnumbered by supporters welcoming the Indian leader.
Modi is expected to leave Australia for New Zealand after concluding his visit. The trip follows his recent visit to Indonesia, where he signed agreements covering agriculture, defence, and food security.
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