Key facts
- Australia and India signed an administrative deal for uranium exports for peaceful purposes.
- The agreement ends a decade-long stalemate over concerns that the uranium could be diverted for weapons.
- India aims to significantly expand its nuclear power capacity by 2047.
- The leaders also pledged increased defense and security cooperation in the Indo-Pacific.
- India is Australia's fifth-largest trading partner.
Australia and India have finalized an agreement allowing uranium exporters to ship nuclear fuel to the energy-hungry South Asian nation, the countries' leaders announced on Thursday. The deal resolves a decade-long stalemate over concerns that the uranium could be diverted for weapons, as India is not a signatory to the Nuclear Non-Proliferation Treaty. Australia possesses the world's largest known uranium resources but does not use nuclear power or weapons, exporting all its uranium. India aims to install 100 gigawatts of nuclear power by 2047, with nuclear power currently accounting for only 3% of its electricity. The leaders also committed to enhanced defense and security cooperation in the Indo-Pacific region. India is Australia’s fifth-largest trading partner, with bilateral trade valued at 54.4 billion Australian dollars in the 2024-2025 financial year.