INDIA- AUSTRALIA NUCLEAR DEAL

INDIA- AUSTRALIA NUCLEAR DEAL

 India and Australia signed the civil nuclear deal in September 2014, but Australia is unable to supply uranium to India because treaty has not been ratified by Australian parliament.

 Recently the parliamentary committee (Joint Standing committee on Treaties (JSCOT)) has released report about India- Australia nuclear deal.

 The parliamentary committee has “in principle” approved the nuclear deal.

RECOMMENDATIONS OF COMMITTEE

 It recommended that India be encouraged to sign the Nuclear Non Proliferation Treaty (NPT),

 To separate its civilian and military nuclear facilities further, and

 Appoint an “independent national regulator” to oversee the movement of Uranium, also called Australia Obligated Nuclear Material (AONM).

MAJOR ISSUE WITH DEAL

 Under Section 51(2) of the Australian safeguards law, it is mandatory for the government to account for all Australia-Obligated Nuclear Material (AONM), in terms of “location, quantities and intended use,” verified on an annual basis.

 India's position is that all imported nuclear material is subject to safeguards under the guidelines of the International Atomic Energy Agency and further bilateral intrusions are unnecessary.

TRADE

 The bilateral trade between India and Australia, estimated at $15 billion.

 To strengthen bilateral trade and investment, both counties Prime Ministers agreed to conclude a
Comprehensive Economic Cooperation Agreement (CEPA) by the end of the year.

 India –Australia both borders the Indian Ocean and has a shared interest in the maintenance of freedom of navigation and trade.