MELBOURNE: India and Australia on Thursday signed an agreement to facilitate uranium exports, as both countries pledged to strengthen defense and security cooperation.
The development came as Indian Prime Minister Narendra Modi arrived in Melbourne for a leaders’ summit, where he was welcomed by Australian Prime Minister Anthony Albanese.
Following the meeting, the two sides issued a joint statement welcoming the signing of an administrative arrangement that will enable Australian uranium exports to India for peaceful purposes under the 2015 Australia–India Nuclear Cooperation Agreement.
According to the statement, the arrangement will facilitate Australian uranium exports to India, helping expand the share of non-fossil fuel power generation while providing an additional market for Australia’s resources sector.
Albanese said Australia looks forward to becoming “a reliable, trusted supplier of uranium to India.”
The leaders also reaffirmed that defense and security cooperation remains a cornerstone of the bilateral partnership amid an increasingly complex strategic environment.
Australia and India elevated their ties to a Comprehensive Strategic Partnership in June 2020, reflecting closer cooperation across a range of sectors.
India is Australia’s fifth-largest trading partner, with bilateral services trade reaching $54.4 billion during the 2024–25 financial year.