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India Australia set to seal uranium supply pact
The Economic Times··6 Jul
A uranium supply pact is expected from Prime Minister Narendra Modi's Australia visit this week as New Delhi expands nuclear power generation. Australia holds a third of the world's known uranium reserves and entered a framework pact with India over a decade ago. Modi and Australian PM Anthony Albanese will hold an annual summit in Melbourne.
Prism
What It Means For You
- Uranium supply could accelerate India's nuclear power capacity expansion.
- Trade pacts may reduce costs for imported raw materials and exports.
- Clean energy agreements affect long-term electricity and industrial planning.
What's Happening
- Modi visits Australia this week for summit with PM Albanese.
- A uranium supply pact is expected during the Melbourne visit.
- Additional pacts on critical minerals and cybersecurity are planned.
Diplomatic Context
- India and Australia signed a uranium framework pact over a decade ago.
- ECTA bilateral trade agreement entered force in December 2022.
- Bilateral trade reached 54.4 billion dollars in FY25.
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