The federal government may revisit a request to sell uranium to India if that country's historic pact with the United States gets the green light from two key international groups.

Labor refuses to sell uranium to countries which aren't signatories to the nuclear non-proliferation treaty (NPT) and upon winning government it overturned a former coalition policy to allow sales of the fuel to India.

But on Monday it indicated it may think again when, and if, the India-US deal gets the sign-off from the Nuclear Suppliers Group and the International Atomic Energy Agency (IAEA).

The coalition amended its policy on the back of the 2006 deal which allowed India access to US uranium and nuclear technology in return for opening up some atomic reactors to international inspections.

The pact, known as the 123 agreement, is still to be passed by the US and Indian parliaments.

As Foreign Minister Stephen Smith met External Affairs Minister Pranab Mukherjee in Canberra on Monday, the pair were at pains to point out that failure to currently see eye to eye on uranium wasn't an impediment to stronger relations.

"I have come to Australia not with one issue of getting uranium from Australia because we are aware of the position of the Labor Party in Australia for quite some time," Mr Mukherjee told reporters.

"Australia's commitment to non-proliferation is firm and we respect that."

While Labor stood firm on its current uranium policy, Mr Smith indicated the government would take another look at the issue when it came before key international forums, which have to sign off on the US-India deal.

"If and when the 123 Agreement gets to either the International Atomic Energy Agency or the Nuclear Suppliers Group, the NSG, Australia will then give consideration to what its attitude to that agreement is," Mr Smith said.

"We will bear in mind the view and the arguments and the importance of the issue to India when we come to that consideration."

Mr Mukherjee also indicated India was not perturbed by Australia's decision not to pursue a quadrilateral dialogue involving Canberra, New Delhi, Tokyo and Washington.

To highlight the strength of the relationship, Mr Mukherjee - the seventh high-level visitor from India since Labor won government - and Mr Smith agreed on new annual, roundtable discussions, as well as greater cooperation in a range of areas, including defence, counter-terrorism and security.

"The potential is there for Australia to take its relationship with India to the front line of its international partnerships," Mr Smith told parliament.

"This is something which has not occurred in the past. It is a matter of regret, I think, that over the last 30 or so years Australia has under-appreciated its relationship with India."