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India, Australia completed formalities for Civil Nuclear Pact
India and Australia early announced completion of procedures for bringing the two-nation nuclear deal into force. The deal was finalized at the bilateral meeting between Prime Minister Narendra Modi and his Australian counterpart Malcolm Turnbull on the sidelines of the G-20 Summit at Antalya in Turkey.
With the completion of procedures, including the administrative arrangements, India-Australia civil nuclear agreement will enter into force and India will be the first country to buy Australian uranium without being a signatory to the Nuclear Non-proliferation Treaty.
Australia has the world’s highest Uranium reserves (about a third of world’s recoverable uranium resources and exports nearly, 7000 tonnes in a year) and is also a key member in the Nuclear Suppliers Group where India is making efforts to gain entry.
The civil nuclear agreement between India and Australia was signed-in on 5 September 2014 during the state visit of Australian Prime Minister Tony Abbott to India. However, the decks for its implementation were cleared with the announcement of completion of the procedures to enforce the agreement.