Description: Indian Prime Minister, Narendra Modi, met with his Australian counterpart, Anthony Albanese, at an event in Melbourne, where they jointly announced enhanced energy cooperation between the two countries. Modi and Albanese concluded a crucial uranium deal which stipulated that Australia would export its much sought after uranium resources to contribute towards India’s demand for energy diversification. The leaders also announced enhanced bilateral cooperation in areas such as exploration of rare earth minerals, green hydrogen and renewable energy sources. Albanese’s statements praised Modi, claiming that India’s leader represented a bridge between the two countries, alluding to the nuclear energy deal the two countries concluded in 2014.
Impact: Modi and Albanese’s meeting likely emphasizes strategic consolidation between the two countries in the midst of China’s rising soft and hard power influence in the region. The enhancement of energy cooperation would likely enable India to expand its industrial sectors and decouple from coal as its main source of energy while shelving its growing renewable energy products on the Australian market. Australia’s ambitions are likely closely connected to reducing the country’s trade reliance on China as its primary trade partner and expanding regional soft power influence after concluding security partnerships with island countries within the past year. India also highly likely aims at extending regional influence through trade and energy partnerships in order to counter China’s growing regional ambitions.