Welcome Aus ruling party support on uranium: India

New Delhi: India on Sunday welcomed the decision of Australia's ruling Labor Party to allow supply of uranium, reversing its long held position.

"It is learnt that the Australian Labour Party agreed today, to allow sale of Uranium to India for power generation. ...We welcome this initiative," External Affairs Minister SM Krishna said in statement.

He said bilateral cooperation in energy sector is one of the important aspects of India's multi-faceted ties with Australia.

The Minister issued the statement from Frankfurt hours after Labor party backed Prime Minister Julia Gillard's bold move to overturn a longstanding ban on uranium sale to India.

Krishna is on his way to Bonn to attend Afghan donors' conference.

Australia, which has one of the largest known reserves of uranium, has for long barred supply of uranium to India as it is not a signatory of the Nuclear Non-Proliferation Treaty.