Australia to supply uranium to India

INTERindausAfter 8 years of negotiations, and a shifting nuclear policy, the Australian government has finally given the okay to the export of uranium to India, which can begin immediately.

The Nuclear Cooperation Agreement between the two countries permits Australian companies to begin commercial uranium exports to India, marking the move as an important milestone in the relationship of Australia and India.

Australian Foreign Minister Julie Bishop said the uranium supply will help India meet its rapidly growing electricity demand and improve the welfare of its people. IT is estimated that India’s uranium import could grow up to 2000 tonnes a year valued at 200 million dollars. India currently gets just 2 percent of its energy from nuclear power.