India and Australia on Thursday signed a pact to facilitate uranium exports as the two countries pledged to deepen defense and security cooperation. This came as Indian Prime Minister Narendra Modi arrived in Melbourne, where he was received by Australian Prime Minister Anthony Albanese for a leaders' summit.
Uranium Export Deal Finalized
A joint statement released after the meeting said the leaders welcomed the “signing of the administrative arrangement to enable uranium exports to India for peaceful purposes under the 2015 Australia–India Nuclear Cooperation Agreement”. “The arrangement facilitates Australian uranium exports to India to help increase the share of non-fossil fuel power capacity, providing an additional market for the Australian resources sector,” it said.
Albanese said: "We look forward to becoming a reliable, trusted supplier of uranium to India". The deal marks a significant step in energy cooperation, aligning with India's goal to expand non-fossil fuel power generation.
Defense and Security Cooperation Strengthened
The two leaders “reaffirmed that defense and security cooperation is a cornerstone of the partnership in an increasingly complex strategic environment”. The Australia-India relationship was upgraded to a “comprehensive strategic partnership” in June 2020. This framework has facilitated deeper military exercises, intelligence sharing, and maritime security collaboration in the Indo-Pacific region.
Trade and Economic Ties
India is also Australia’s fifth-largest trading partner, with services valued at $54.4 billion in 2024-25. The uranium export deal is expected to further boost bilateral trade, providing a new market for Australia's resources sector while supporting India's clean energy transition.
Earlier, India approved the purchase of $5.46 billion in military equipment, underscoring its commitment to modernizing its defense capabilities. The two nations continue to align their strategic interests amid evolving geopolitical dynamics.
