In a major policy change that will be welcomed in New Delhi, Australian Prime Minister Julia Gillard has declared that her Labour Party will reverse its ban on selling uranium to India. Australia has been refusing to sell uranium to India since it isn’t a signatory to the non-proliferation treaty (NPT). Gillard also wrote to Prime Minister Manmohan Singh flagging the debate at her party’s conference. If cleared, Australia’s sale of uranium to India is expected to strengthen bilateral ties exponentially as the country is one of India’s key partners. Supporting uranium sale to India, Australian PM Julia Gillard explained at a press conference in Canberra on Tuesday why her government should overturn the current ban. Recognizing that the old strategy of bringing India into the NPT had been overtaken by the US-India civil nuclear agreement, Gillard said, “It effectively lifted the de-facto international ban on cooperation with India in this area. For us to refuse to budge is all pain with no gain and I believe that our national platform should recognize that reality.” She added, “Selling uranium to India will be good for the Australian economy and good for Australian jobs. As India rises, it will need more energy. It is looking to supply 40% of that energy need through nuclear energy… we are a very big supplier of uranium, so having access to this new and growing market is good for Australian jobs.” The spot price of uranium has fallen to below $50 a pound after the Fukushima disaster when compared to over $140 in 2007. Gillard was fairly candid about the fact that improving ties with India was one of her chief considerations. Australian foreign minister Kevin Rudd, also a former PM, concurred. Rudd said, “On one side of this argument there are many passions, of course, concerning non-proliferation. The other side, there are deep concerns about the strategic importance of India and how we further strengthen our relationship...”
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