But, with limited domestic uranium reserves, India has been looking abroad to get assured supplies. It has already signed an agreement with Kazakhstan. Australia has, however, so far refused to supply uranium to India, unless it signs the Nuclear Non-Proliferation Treaty.

The Indo-Namibian agreement in peaceful uses of nuclear energy allows for supply of uranium and setting up of nuclear reactors.

The Indian cabinet had last week also given the green light to the government to sign an umbrella agreement with Namibia in the lucrative area of mining.

The Namibian president also invited Indian industrialists to try and redress the balance of trade which was heavily in favour of India. While exports from India stood at $40 million for 2007-8, imports of Nambia were at nearly half at $21 million.

'We should, therefore, work hard to bring about more exports from Namibia to India,' he said.

Pohamba asked for Indian businesses to look at Namibia for its diamonds, 'which are the best in the world'.

'This year, my colleague, minister of mines said, why can't we have some of the diamonds go to india, so that they can see the value of the Namibian diamond. I said go ahead. So that there are some packs of diamonds which came to India this year,' he said.

India has been strongly advocating for the Africanisation of the diamond trade, where the countries get the benefit from the industry.

Later Monday evening, the Namibian president attended a state banquet in his honour thrown by President Pratibha Patil at the presidential palace.