India-Canada Sign Landmark Uranium Deal, Target $50 Billion Trade After Modi-Carney Talks
India and Canada have taken a major step toward strengthening bilateral relations, signing a landmark agreement on long-term uranium supply following high-level talks between Prime Minister Narendra Modi and his Canadian counterpart Mark Carney in New Delhi.
The agreement, finalised during Carney’s visit to India, is expected to significantly boost civil nuclear cooperation, enhance energy security, and accelerate trade expansion between the two nations.
Canada to Supply Long-Term Uranium to India
In a major breakthrough for India’s energy sector, Canada will supply uranium under a long-term agreement to support India’s civil nuclear energy programme.
Speaking after bilateral discussions at Hyderabad House, PM Modi described the pact as a “landmark deal” in the civil nuclear energy sector. He also confirmed cooperation in advanced nuclear technologies, including small modular reactors (SMRs) and next-generation reactors.
Both sides also firmed up the Terms of Reference for concluding the Comprehensive Economic Partnership Agreement (CEPA).
Strategic Energy Partnership Launched
Canadian Prime Minister Mark Carney announced the launch of a “strategic energy partnership with significant potential,” highlighting a CAD $2.6 billion (approximately $1.9 billion USD) uranium supply agreement to support India’s growing nuclear energy ambitions.
Carney emphasized that Canada is well positioned to act as a reliable supplier of liquefied natural gas (LNG) from its west coast. He also noted Canada’s strong resource base in critical minerals, which are essential for India’s manufacturing, clean technology, and nuclear power sectors.
Defence Cooperation and Maritime Security
Beyond energy, India and Canada agreed to deepen cooperation in defence manufacturing and maritime domain awareness.
The two leaders also discussed joint efforts to combat terrorism, extremism, and radicalisation. PM Modi stressed that these challenges pose serious threats not only to both nations but to global peace and stability, underlining the importance of close collaboration.
$50 Billion Bilateral Trade Target
A key highlight of the talks was the ambitious target of reaching $50 billion in bilateral trade.
The two nations agreed to fast-track negotiations on the Comprehensive Economic Partnership Agreement (CEPA), which had previously been paused. According to PM Modi, finalising the agreement will create new investment opportunities, generate jobs, and strengthen economic ties in both countries.
Expanding Engagement After Diplomatic Strain
Carney described the recent engagement between India and Canada as unprecedented, stating that government-level interaction over the past year has surpassed that of the previous two decades combined.
His visit marks an important effort to reset diplomatic relations, which faced strain in 2023 following allegations made by Ottawa regarding the killing of a Sikh activist in Canada. India has denied those allegations.
Carney’s India visit signals renewed political will from both sides to rebuild trust, expand trade, and strengthen strategic cooperation across energy, defence, and economic sectors.
Conclusion
The Modi-Carney talks represent a significant turning point in India-Canada relations. With a landmark uranium agreement, a strategic energy partnership, defence cooperation plans, and a bold $50 billion trade target, both countries are positioning themselves for a new phase of long-term collaboration.
As negotiations on the Comprehensive Economic Partnership Agreement move forward, the partnership is expected to unlock new opportunities across energy, trade, and technology sectors.
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