Australia and India have formalized an agreement to export Australian uranium to India for use in the nuclear energy sector. Indian Prime Minister Narendra Modi announced the deal on July 9, 2026, following discussions with Australian Prime Minister Anthony Albanese in Melbourne.
The joint statement accompanying the agreement emphasized that uranium exports will be for "exclusively peaceful purposes." India aims to leverage Australia's uranium reserves, which constitute about 28 percent of the global supply, to reach a target of 100 gigawatts of nuclear energy capacity by 2047. Meanwhile, Australia seeks to diversify its trade partnerships beyond its current reliance on China.
Additionally, the two countries plan to establish a temporary space tracking terminal on Australia’s Cocos Keeling Islands in the Indian Ocean to support Indian spaceflight projects. According to Australian government data, two-way trade in goods and services between the nations was valued at 54.4 billion Australian dollars (approximately US$37.7 billion) during the 2024-2025 financial year.
The agreement comes amid broader international concerns, including calls from the International Atomic Energy Agency and Western nations for verification and cooperation regarding Iran’s nuclear ambitions, and North Korea’s announced expansion of its nuclear arsenal.
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