India and Canada have signed a major uranium supply agreement worth $2.6 billion, marking a significant step in strengthening ties between the two countries. The deal will see Canadian mining company Cameco supply uranium ore to India over several years to fuel its civilian nuclear power plants.
The agreement was finalised during high-level talks between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney. The uranium supply is expected to support India’s growing nuclear energy programme and help ensure long-term energy security.
Apart from the uranium deal, both sides signed agreements to cooperate in critical minerals, renewable energy and other strategic sectors. Critical minerals are essential for clean energy technologies, electric vehicles and advanced manufacturing, making them a key focus area for both countries.
India and Canada also agreed to accelerate talks on a Comprehensive Economic Partnership Agreement (CEPA), effectively reviving efforts toward a free trade deal. The two nations have set an ambitious target of increasing bilateral trade to $50 billion by 2030, a sharp rise from current levels.
Leaders from both sides described the agreements as a step toward deepening economic and strategic cooperation. They emphasised the importance of building reliable supply chains, boosting investments and creating new opportunities for businesses.
The renewed engagement signals a positive turn in India-Canada relations, with energy security, trade expansion and cooperation in emerging sectors forming the core of the partnership. If negotiations on the trade pact progress smoothly, businesses in both countries could benefit from reduced tariffs and easier market access in the coming years
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