India and Canada have agreed on uranium supply and critical mineral deals, marking a major reset in relations after a diplomatic rift.
NEW DELHI: India and Canada have announced a series of landmark agreements covering critical minerals, uranium supply, and renewable energy, signalling a major reset in bilateral relations.
The deals were unveiled following talks between Prime Minister Narendra Modi and his Canadian counterpart Mark Carney, who hailed a new chapter in ties that had effectively collapsed in 2023.
“Our ties have seen a new energy, mutual trust, and positivity,” Modi said during a joint address in New Delhi.
Carney emphasised that the engagement represented a significant expansion of the partnership, stating, “This is not merely the renewal of a relationship. It is the expansion of a valued partnership with new ambition, focus, and foresight, a partnership between two confident countries charting our own course for the future.”
A central component of the new cooperation is a long-term uranium supply deal to support India’s ambitious nuclear energy expansion plans.
Modi confirmed the “landmark deal for long-term uranium supply”, which will help fuel India’s goal of increasing nuclear power capacity from 8 to 100 gigawatts by 2047.
Carney detailed the agreement as a CAD$2.6 billion (US$1.9 billion) uranium supply pact forming part of a new strategic energy partnership.
The Canadian leader also highlighted his country’s potential as a reliable supplier of liquefied natural gas from its west coast to meet India’s growing energy demands.
Beyond energy, the two nations agreed to cooperate on securing critical minerals essential for India’s manufacturing and clean-technology sectors.
“As India seeks access to critical minerals for its manufacturing, its clean-tech, and its nuclear plants, Canada’s resource base and world-leading companies position it as a strategic partner,” Carney said.
The leaders also committed to finalising a Comprehensive Economic Partnership Agreement, a proposed free-trade deal, with a target of reaching USD 50 billion in bilateral trade.
Modi stated that the agreement “will open new opportunities to invest and create jobs in both countries”.
The visit and agreements mark a pivotal step in mending relations that were severely strained after Ottawa accused New Delhi of involvement in a deadly campaign against Sikh activists in Canada, allegations India rejected.
Carney noted that there has been more engagement between the two governments in the past year than in the previous two decades combined.
