Australia sees opportunity in India's nuclear energy push
Tania Constable, Chief Executive Officer of the Minerals Council of Australia, has identified a significant opportunity for Australia to become a key supplier of uranium to India as New Delhi pursues an ambitious target of 1,000 gigawatts of nuclear energy capacity by 2047. Speaking on the sidelines of the Australia CEO Forum on Clean Energy and Nuclear Partnerships in Melbourne, Constable highlighted the strong relationship between Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese as a driving force for bilateral cooperation.
Strong leadership driving strategic partnership
“There is an obvious strong relationship between Prime Minister Modi and Prime Minister Albanese that has been there now for a few years. Great to see that that is occurring at the moment. And it's that strength of relationship right at the top between our countries that will continue to drive a strong strategic partnership,” Constable told ANI.
She emphasised that Australia is well placed to support India's long-term clean energy goals, given the long history of trade and investment between the two nations. “Now there's an opportunity to really strengthen uranium out of Australia into India to meet its huge ambitions of 1,000 gigawatts by 2047,” she added.
PM Modi highlights renewable and nuclear targets
Addressing business leaders at the Australia CEO Forum on Clean Energy and Nuclear Partnerships Reception, Prime Minister Modi said Australia can play a significant role in helping India achieve its target of 500 gigawatts of renewable energy capacity by 2030. He noted opportunities for collaboration in clean energy, nuclear power, and infrastructure.
“Many companies associated with clean energy are present here. We are building a manufacturing ecosystem in India for hydro projects, green hydrogen, solar modules, and wind turbines. India has set a target of achieving 500 gigawatts of renewable energy capacity by 2030 and reaching net-zero emissions by 2070. Australia's technology, capital, and resources can accelerate this transition,” PM Modi stated.
Civil nuclear cooperation aligned with uranium reserves
PM Modi also underlined the scope for cooperation in civil nuclear energy, saying, “We have set a target of 100 gigawatts of nuclear energy capacity by 2047. Australia's vast uranium reserves align directly with India's nuclear journey.” This statement underscores the potential for increased uranium trade between the two countries, with Australia’s abundant resources matching India’s growing demand for nuclear fuel.
The Australia CEO Forum on Clean Energy and Nuclear Partnerships served as a platform to deepen economic engagement, particularly in the energy sector. Constable’s remarks reflect a growing recognition in Australia of the commercial and strategic benefits of supplying uranium to India, which is rapidly expanding its nuclear power infrastructure to meet soaring energy demands.
