India, Australia Sign Energy Pact to Boost Uranium Cooperation During Modi Visit

India and Australia have signed a major energy cooperation agreement, including the export of Australian uranium for India's civilian nuclear energy programme, during Indian Prime Minister Narendra Modi's visit to Australia.

Signed on Thursday, the agreement also expands bilateral cooperation in renewable energy, critical minerals and green hydrogen, reflecting both countries' efforts to strengthen long-term energy security and clean energy partnerships.

Speaking at a joint press conference in Melbourne, Australian Prime Minister Anthony Albanese said Australia and India were not only close strategic partners but also trusted friends.

"Australian uranium will help reduce India's dependence on fossil fuels while creating new opportunities for Australia's mining sector," Albanese said.

India has set a target of achieving 100 gigawatts of nuclear power generation capacity by 2047, and securing access to Australia's vast uranium reserves has long been a strategic priority for New Delhi. For Canberra, the agreement supports efforts to diversify export markets and reduce reliance on trade with China.

Although the two countries signed a civil nuclear cooperation agreement in 2014, uranium exports have remained limited due to Australia's insistence that the fuel be used exclusively for peaceful purposes, particularly electricity generation.

Prime Minister Modi said Australia's technology, capital and natural resources could play a vital role in accelerating India's energy transition. He also invited Australian businesses to make long-term investments in India's roads, ports, railways and urban infrastructure projects.

Separately, Australia's largest pension fund, AustralianSuper, announced an additional investment of A$500 million in India's National Investment and Infrastructure Fund (NIIF), underscoring growing investor confidence in the country's infrastructure sector.

India is currently Australia's fifth-largest trading partner, while nearly one million people of Indian origin live in Australia. As part of his visit, Modi is scheduled to attend a gathering of the Indian diaspora in Melbourne.

The visit is widely viewed as an important step toward deepening economic, energy and strategic ties between the two Indo-Pacific partners.