Pulling off a diplomatic victory, India on Friday signed a deal with Australia that will entitle it to get uranium to generate nuclear power and help it meet its energy shortages.
The agreement was the result of tough negotiations over a year and a half, as Australia had till now ruled out selling radioactive materials to India which is not a signatory to the Nuclear Non-Proliferation Treaty.
This despite the fact that India had managed to sign nuclear agreements with nine countries after the landmark 123 agreements with the US and a special waiver announced by the Nuclear Supplies Group (NSG).
The agreement was signed by Australian and Indian officials in the presence of visiting Australian prime minister Tony Abbot and prime minister Narendra Modi. The Australians said they are now convinced about the guarantees and precautions offered by India that Australian uranium exports would be used only for peaceful purposes.
Australia is the third largest producer of uranium. It has about 40% of the world's recoverable uranium, but less than 20% of it is exported.
Exporting uranium to India will help Australian miners such as BHP Billiton Ltd and Rio Tinto Group-controlled Energy Resources of Australia Ltd, agencies reported.
During his trip to Japan earlier this week, Modi was unable to close a deal on nuclear energy cooperation, but both countries agreed to speed up negotiations.
Besides the US, India has signed nuclear agreements with South Korea, Kazakhstan, Argentina, Namibia, Mongolia, France, Russia and now with Australia.
Nuclear energy accounts for only a small portion of India's power supply but it could help to reduce the shortfall.
Both sides also signed three agreements for cooperation in sports, vocational studies and water resources management.
The Australian prime minister maintained that India has proved economic transformation is quite compatible with robust free speech, independent courts, and democratic checks and balances on government.
"The election of new governments opens new possibilities for both our countries," Abbot said. Modi said both countries not only need to work together with a sense of priority to promote peace and prosperity in Asia, Pacific and the Indian Ocean region, but also take on the responsibility of bringing together all other countries in this endeavor.
He thanked Abbot for handing over two antique statues of Hindu deities which were allegedly stolen from temples in Tamil Nadu and were bought by art galleries in Australia. One of them is a Nataraja – the dancing Shiva – that belonged to the Chola dynasty of the 11th-12th century.
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