Mar 7 – Canada and India have signed a 10-year uranium supply agreement following talks between Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi in New Delhi on Monday, signalling a reset in previously strained diplomatic relations.<\/p>\n\n\n\n
The agreement forms part of a broader push to deepen cooperation in energy, trade and education between the two countries.<\/p>\n\n\n\n
Speaking alongside Modi, Carney described his visit as marking the start of \u201ca new era of partnership\u201d between Canada and India.<\/p>\n\n\n\n
\u201cThis visit marks the end of a challenging period and, more importantly, the beginning of a new, more ambitious partnership between two confident and complementary nations,\u201d Carney said.<\/p>\n\n\n\n
He added that both countries are working towards concluding a Canada-India Economic Partnership Agreement by the end of the year.<\/p>\n\n\n\n
\u201cWe are advancing towards a Canada-India Economic Partnership agreement with an aim to conclude it by the end of this year,\u201d he said.<\/p>\n\n\n\n
Relations between the two nations deteriorated sharply in 2023 and 2024 after the previous Canadian government alleged that Indian agents were involved in the killing of a Sikh separatist in British Columbia. The dispute triggered diplomatic expulsions and stalled trade talks.<\/p>\n\n\n\n
However, both governments now appear keen to rebuild ties and move forward with a comprehensive economic partnership.<\/p>\n\n\n\n
As part of the renewed engagement, Canadian mining company Cameco signed a $1.9 billion agreement to supply uranium to India over the next decade. The deal is expected to secure long-term Canadian uranium supplies for India\u2019s growing nuclear energy sector.<\/p>\n\n\n\n
Canada is the world\u2019s second-largest uranium producer, accounting for roughly 13 to 15 per cent of global output, while Cameco, headquartered in Saskatchewan, is one of the world\u2019s largest publicly traded uranium companies.<\/p>\n\n\n\n
The agreement comes as India accelerates plans to expand its nuclear power capacity as part of its long-term energy security strategy.<\/p>\n\n\n\n
Currently, nuclear energy contributes just over three per cent of India\u2019s electricity generation. The country operates 22 nuclear reactors with a combined capacity of 6,780 megawatts, but aims to increase this to 22,480 MW by 2031.<\/p>\n\n\n\n
Over the longer term, India plans to expand its nuclear power capacity to 100 gigawatts by 2047, significantly increasing demand for nuclear fuel.<\/p>\n\n\n\n
In December, India introduced legislation aimed at opening its nuclear sector to private investment for the first time, allowing selected companies to build and operate nuclear plants.<\/p>\n\n\n\n
The proposed law is part of a broader strategy to make nuclear energy a central pillar of India\u2019s clean energy transition, while also allowing private firms to import and process uranium.<\/p>\n\n\n\n
India\u2019s limited domestic uranium production has made long-term import agreements increasingly critical. The country produces about 600 tonnes of uranium annually, while projected demand from expanding nuclear capacity is expected to exceed 1,800 tonnes per year.<\/p>\n\n\n\n
Much of India\u2019s uranium reserves are low-grade, and the planned addition of more light-water reactors will further increase reliance on imported nuclear fuel.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mar 7 – Canada and India have signed a 10-year uranium supply agreement following talks between Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi in New Delhi on Monday, signalling a reset in previously strained diplomatic relations. The agreement forms part of a broader push to deepen cooperation in energy, trade and […]<\/p>\n","protected":false},"author":13682,"featured_media":795911,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"coauthors":[7495],"class_list":["post-795910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\n