Australian companies can now export uranium commercially to India

Australian High Commissioner, Patrick Suckling, on November 17   had entered the Australia-India Nuclear Cooperation Agreement into force. Through this agreement it is possible for Australian companies to export uranium to India on a commercial basis. The supply of Australian uranium will help India to meet its rapidly growing electricity demand and improve the welfare of its people.

  • Australian Prime Minister Malcolm Turnbull and Indian Prime Minister Narendra Modi made the announcement on the weekend following their first bilateral meeting on the sidelines of the G20 Leaders’ Summit in Turkey.
  • It follows the signing of the Agreement in September last year.
  • As Prime Minister Modi noted, this is a milestone achievement. It marks a further maturing in the relationship between Australia and India and strengthens our bilateral Strategic Partnership with India.
  • Bringing this Agreement into force means it is now possible for uranium exports to go ahead, fulfilling an important priority for the Australian Government.
  • Suckling said the entry into force of the Agreement would also build on the growing collaboration between Australia and India on energy security.
  • It provides the framework for substantial new trade in an energy commodity over the medium to long term, he said.
Try it…

______is the percentage of total deposits of a bank which it has to keep with itself in the form of liquid assets.

ANS: Statutory Reserve Ratio

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