Australian Prime Minister Anthony Albanese and Indian Prime Minister Narendra Modi finalized a landmark agreement to export Australian uranium to India for use in its nuclear energy sector.

The deal, announced during Modi's state visit, aims to support India's goal of achieving 100 gigawatts of nuclear power capacity by 2047 while helping Australia diversify trade beyond its reliance on China.

Although details on the volume, value, and timing of exports were not disclosed, the agreement ensures uranium will be used solely for peaceful purposes like energy generation.The pact builds on a 2014 nuclear cooperation deal but addresses past concerns about potential use in India's weapons program.

Modi emphasized historic opportunities for bilateral collaboration in renewables, critical minerals, and green hydrogen, while also signaling interest in low-carbon aluminium projects.

Australia's largest pension fund, AustralianSuper, pledged A$500m to India's National Investment and Infrastructure Fund, highlighting growing economic ties.

The agreement comes amid heightened tensions over immigration and far-right protests against Indian communities in Australia, though large crowds supported Modi during his visit.