India & Aus unlock ‘PACTS’ to boost defence & tech ties, secure deal for uranium supply
PM Modi meets Australian PM Albanese in Melbourne; trade, defence, critical tech on agenda Defence and security, critical technology, supply chain resilience and energy security
PM Modi meets Australian PM Albanese in Melbourne; trade, defence, critical tech on agenda Defence and security, critical technology, supply chain resilience and energy security cooperation - including finalisation of administrative arrangements for long-term supply of uranium to India - topped the agenda of the 3rd India-Australia annual summit in Melbourne.PM Narendra Modi and his counterpart Anthony Albanese also agreed to fast track ongoing talks for a balanced and ambitious comprehensive economic cooperation agreement and a bilateral investment treaty.Invoking a cricketing analogy, Modi said India-Australia bilateral agenda was as focused as a one-day match, decisions fast like T20 and partnership long and deep like a test match. Among the 18 outcomes that were announced, there was a joint declaration on defence and security cooperation for interoperability of forces and defense industrial collaboration, and a maritime security collaboration roadmap.India and Australia also launched a Partnership for Cyber, Critical Technologies, Supply Chains (PACTS) to support national and regional security, promote collaboration to make critical supply chains more resilient, and strengthen collaboration in critical technologies, cyber security, and digital resilience. In his media statement, Modi said PACTS will facilitate critical minerals cooperation vital for strategic security and clean energy transition and that both sides will work together on a critical mineral corridor.Among the major takeaways was also the long-pending operationalisation of the 2014 India-Australia Civil Nuclear Agreement for uranium supply to India.
“Today, we signed a significant agreement in the field of nuclear energy. This will pave the way for the supply of uranium from Australia to India and give fresh momentum to our clean energy objectives,” said the PM, who described India and Australia at a business event earlier as natural and trusted partners in times of global uncertainties.While reiterating support for India’s Nuclear Suppliers Group (NSG) membership bid, a joint statement said the agreement will enable long-term Australian uranium exports to India for exclusively peaceful purposes and under IAEA safeguards.India and Australia had concluded fuel supply arrangements as early as in 2015 but it was yet to be operationalised because of a lack of agreement on the issue of safeguards. Calling the agreement a shot in the arm for India’s clean energy goals, foreign secretary Vikram Misri said it was important to have reporting procedures and protocols that would satisfy both sides about the supply, handling and accounting of material.“As a result of very intense discussions over a period of almost 2 years, both sides were able to conclude these issues to their mutual satisfaction,” said Misri.