Historic Agreement Between India and Australia: Uranium Export for Peaceful Purposes

India and Australia have signed a historic agreement on uranium export after long-standing negotiations. The leaders of the two countries, Narendra Modi and Anthony Albanese, met in Melbourne and announced the completion of the administrative arrangement that will enable the long-term export of uranium from Australia to India for peaceful purposes.In a joint statement, the parties stated that Australian uranium will be used only for peaceful purposes and that exports will be carried out under the guarantees of the International Atomic Energy Agency (IAEA). Australia also expressed strong support for India's membership in the Nuclear Suppliers Group.Australia, which has approximately 28% of the world's uranium reserves, will engage in long-term uranium exports to India, which has a rapidly growing energy demand. India aims to reach 100 gigawatts of nuclear energy capacity by 2047.Although the nuclear cooperation agreement signed between the two countries in 2014 has been in effect, uranium exports have been limited until now due to concerns about ensuring that the fuel is used only for peaceful purposes. Following his meeting with Modi, Albanese stated that Australia and India are close partners and becoming increasingly close friends.