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India, Canada seal USD 2.6 bn uranium deal; resolve to conclude...

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo NEW DELHI, Mar 2: India and Canada on Monday inked landmark pacts on supplies of Uranium and critical minerals and vowed to seal a comprehensive economic partnership agreement this year with Prime Minister Narendra Modi and his Canadian counterpart Mark Carney finalising an ambitious roadmap of cooperation to shore up ties including taking bilateral annual trade to over USD 50 billion by 2030. In their wide-ranging talks, the two leaders also pledged to ramp up cooperation in defence, critical technologies, small and modular nuclear reactors, education, artificial intelligence and renewable energy, demonstrating that the relationship has moved beyond turbulence into a more stable and forward-looking phase. The ties between the two countries hit rock bottom following then-PM Justin Trudeau’s allegations in 2023 of a potential Indian link to the killing of Khalistani terrorist Hardeep Singh Nijjar in Canada.

India, Canada seal USD 2.6 bn uranium deal; resolve to conclude...

Credit: Dailyexcelsior

Key Highlights

  • The two sides initiated a series of measures to rebuild the relations after Carney became the prime minister in March last year.
  • To leverage their strengths as complementary economies, India and Canada announced a new strategic energy partnership, including in LNG, LPG, uranium, solar and hydrogen.
  • As the first step, a USD 2.6 billion agreement was signed between the government of India and Saskatoon-based Cameco to supply nearly 22 million pounds of uranium to India for nuclear energy generation from 2027 to 2035.
  • Besides the pacts on uranium and critical minerals, India and Canada signed six other MoUs, including one on the terms of reference for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
  • “Our goal is to reach USD 50 billion in trade by 2030.
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Sources

  1. India, Canada seal USD 2.6 bn uranium deal; resolve to conclude...

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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