During Prime Minister Narendra Modi's visit to Australia in 2026, the two countries completed the administrative steps that will allow private Australian uranium miners to sell uranium to Indian private firms. The deal is governed by the Australia-India Nuclear Cooperation Agreement, 2015 and will be monitored by the IAEA. All exports are for peaceful purposes only.
Key Developments
- Administrative arrangement finalised – private Australian miners can now sign contracts with Indian private sector entities.
- India’s SHANTI Act enables private participation in the nuclear fuel cycle.
- India aims for 1,000 GW of nuclear capacity by 2047; the uranium supply is expected to support 500 GW of clean energy by 2030.
- Australia, holding over 25% of global uranium reserves, extends its export policy to a non‑NPT signatory under strict safeguards.
Important Facts
- Australia’s uranium exports have previously gone only to countries with bilateral safeguards such as the US, Japan, and several European nations.
- India signed a safeguards agreement with the IAEA in 2008, paving the way for the NSG waiver.
- The deal follows a 2014 civil nuclear pact that entered into force in 2015.
- Earlier in 2026, Canada’s Cameco signed a $1.9 billion contract with India’s DAE for uranium concentrate, boosting confidence in India’s nuclear programme.
Exam Relevance
This development touches upon several GS papers. In GS2 (Polity), it illustrates how India navigates non‑proliferation nor