Australia and India reached a deal on Thursday to export Australian uranium to India for use in the nuclear energy industry, while agreeing to deepen cooperation in renewables, critical minerals and green hydrogen.
India has long eyed Australia's uranium reserves to help meet a target of 100 gigawatts of nuclear energy capacity by 2047, while Australia is looking to diversify trade beyond its reliance on China, its top partner.
"Australia and India are close partners and even closer friends," Australian Prime Minister Anthony Albanese told reporters in Melbourne on Thursday, after finalizing the deal with visiting Indian Prime Minister Narendra Modi.
"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."
No details on the volume, value or timing of the exports were immediately available.
