Melbourne: India and Australia on Thursday signed a pact to facilitate uranium exports as the two countries pledged to deepen defense and security cooperation. This came as Indian Prime Minister Narendra Modi arrived in Melbourne, where he was received by Australian Prime Minister Anthony Albanese for a leaders' summit.

According to Anadolu Agency, a joint statement released after the meeting said the leaders welcomed the 'signing of the administrative arrangement to enable uranium exports to India for peaceful purposes under the 2015 Australia-India Nuclear Cooperation Agreement.' The arrangement is set to facilitate Australian uranium exports to India, aiding in the increase of non-fossil fuel power capacity and providing a new market for the Australian resources sector.

Albanese expressed optimism about the new agreement, stating, "We look forward to becoming a reliable, trusted supplier of uranium to India." The two leaders also reaffirmed the importance of defense and security cooperation, emphasizing it as a cornerstone of the partnership in an increasingly complex strategic environment.

The Australia-India relationship was previously upgraded to a 'comprehensive strategic partnership' in June 2020. Additionally, India is recognized as Australia's fifth-largest trading partner, with services valued at $54.4 billion in 2024-25.