Aus, India to sign civil nuclear agreement next month: report

Tags: News
Australia and India have reached a deal on the much awaited civil nuclear agreement, which will be formally signed by Prime Minister Tony Abbott during his visit to Delhi next month, according to a report today.

The "agreement has now been reached, with Indian officials convincing their Australian counterparts that the uranium will not end up in nuclear weapons," said the report published by the Australian Broadcasting Cooperation.

It said the two sides have struck the deal.

Prime Minister "Abbott is due to visit India early next month to formally sign the agreement," it said, adding sources have said the negotiations have been concluded relatively quickly compared to India's dealings with other exporters.

The negotiations between the two sides have been on since 2012 after Labor party reversed its decision to ban the uranium sale to India because New Delhi has not signed the Nuclear Non-Proliferation Treaty.

Australia holds about a third of the world's recoverable uranium resources, and exports nearly 7,000 tonnes a year.

Energy-starved India is looking to nuclear power to supplement its existing options to fuel economic growth.

India has already concluded civil nuclear cooperation agreements with countries like Argentina and Kazakhstan.

EDITORIAL OF THE DAY

  • India cannot afford to ignore the looming Greek crisis

    The crisis in Greece may not have a direct bearing on the Indian economy because the trading or banking exposure of Indian companies to that nation is

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Kuruvilla Pandikattu SJ

The transforming qualities of love

The 2015 Templeton Prize has been awarded to Canadian thinker ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture