- India and Canada signed MoUs on critical minerals, renewable energy, and cultural cooperation.
- Canada's Cameco Corp will supply uranium to India under a $1.9 billion nuclear deal.
- Both nations agreed to collaborate on small modular reactors and advanced nuclear technology.
India and Canada on Monday signed agreements to bolster cooperation in critical minerals and nuclear and solar energy during a visit of Prime Minister Mark Carney to New Delhi.
Canadian Foreign Affairs Minister Anita Anand and External Affairs Minister S Jaishankar exchanged documents of three MoUs on critical mineral cooperation, promoting the use of renewable energy, and cultural cooperation, in the presence of PM Narendra Modi and Carney.
Canadian firm Cameco Corp. will supply uranium under a $1.9 billion deal as India expands its nuclear power generation capacity to meet renewable energy targets. The Modi government liberalised the nuclear energy sector to allow greater private and foreign participation last year.
"In civil nuclear energy, we have reached a landmark deal for long-term uranium supply. We will also work together on small modular reactors and advanced reactors," PM Modi said. "We are pleased that Canada has decided to join the International Solar Alliance and the Global Biofuel Alliance. To further our shared efforts, we will hold the India-Canada Renewable Energy and Storage Summit this year," he added.
Modi said the deal on critical minerals will strengthen the resilience of supply chains. Canada is known to have large deposits of cobalt, nickel, lithium, and copper that have use in all industrial and electronic goods.
Carney said both countries are set to deepen ties across sectors ranging from defence and security to artificial intelligence and space technologies. "We're deepening our cooperation in clean energy, expanding collaboration across wind, solar, and hydrogen because Canada has big plans as well. We plan to double our grid by 2050 and India can be a major partner in this expansion," he said.
The two countries also agreed on the terms of reference for a trade deal to improve market access and investments.
India and Canada, a member of the US-led NATO alliance, announced a defence dialogue to enhance industrial collaboration, maritime domain awareness and military exchanges.
Thaw In India-Canada Ties
Bilateral ties have warmed since Carney tookover from Justin Trudeau, under whose leadership the relation nosedived after he alleged in 2023 of a potential Indian link to the killing of Hardeep Singh Nijjar. In June last year, Modi travelled to Canada's Kananaskis to attend the G7 summit where he and newly-elected Carney held extensive talks with a focus on rebuilding the ties.
Their efforts have gained momentum amid bellicose rhetoric from the US. The Trump administration has used punitive tariffs against India and Canada last year. Carney has sought to reduce economic and security dependence on Washington by rebuilding ties with China and India and strengthening links with Europe, Japan and Australia.
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