India and Canada are close to finalising a 10-year uranium supply agreement estimated to be worth nearly USD 3 billion, in a move that could significantly strengthen India’s nuclear energy programme while signalling a broader reset in bilateral relations.
The proposed deal would ensure long-term uranium supplies to fuel India’s expanding civilian nuclear power sector. Canada, the world’s second-largest uranium producer, has been supplying uranium to India since a civil nuclear cooperation agreement between the two countries came into force in 2013.
Officials familiar with the discussions indicated that the uranium would likely be sourced from northern Saskatchewan operations of Cameco, one of the world’s largest uranium fuel suppliers. Saskatchewan Premier Scott Moe is part of the Canadian delegation visiting India, underlining the province’s central role in uranium production.
Boost to India’s Nuclear Expansion
India is seeking increased uranium imports to support its growing nuclear energy capacity, which is seen as critical to meeting rising electricity demand while reducing carbon emissions. A long-term supply arrangement with Canada would enhance fuel security and support the country’s plans to expand nuclear power generation.
For Canada, the agreement aligns with Prime Minister Mark Carney’s push to position the country as an “energy superpower” and deepen energy partnerships with key Indo-Pacific economies.
Strategic Partnership in Focus
During their meeting at Hyderabad House in New Delhi, Prime Minister Narendra Modi and Carney are expected to review the India–Canada strategic partnership and discuss cooperation across trade and investment, energy, critical minerals, innovation, and people-to-people ties.
The talks come at a time when both countries are seeking to stabilise relations after several years of diplomatic strain. Officials say the renewed engagement reflects mutual interest in restoring trust and expanding economic cooperation.
Diplomatic Engagement Ahead of Summit Talks
Ahead of his meeting with Modi, Carney met External Affairs Minister S Jaishankar in New Delhi.
“Delighted to call on Prime Minister Mark Carney of Canada in New Delhi this morning. Appreciate his commitment towards charting a forward-looking partnership,” Jaishankar said in a post on X. |
