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India and Australia look to fast-track sweeping free trade pact after uranium export deal

Published July 9, 2026 at 10:32 PM UTC

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In a significant development, Australia and India have finalized administrative arrangements to export Australian uranium to India for peaceful purposes. This agreement, announced by Australian Prime Minister Anthony Albanese and Indian Prime Minister Narendra Modi during a meeting in Melbourne, marks the end of a longstanding deadlock over concerns about nuclear weapons proliferation. The specifics regarding the volume and timeline of uranium exports have not been disclosed. This move enacts a 2014 agreement that had been stalled due to India's non-signatory status to the Nuclear Non-Proliferation Treaty (NPT). Australia, possessing the world's largest known uranium resources, has historically refused to export uranium to non-NPT members. India, with a population of 1.4 billion people and a growing middle class, aims to install 100 gigawatts of nuclear power by 2047, enough to power nearly 60 million Indian homes annually. However, obtaining uranium has been challenging. India has doubled its nuclear power capacity in the last decade, yet it still accounts for only 3% of its electricity. The agreement aligns with international nuclear safeguards and aims to separate military and civilian nuclear programs. In addition to the uranium export deal, both leaders pledged deeper cooperation on defense and Indo-Pacific security, especially in light of recent tensions involving China. India is Australia's fifth-largest trading partner, with bilateral trade totaling AU$54.4 billion in 2024–25. Modi's visit also includes trips to Indonesia and New Zealand.