India and Canada Sign $1.9 Billion Uranium Supply Deal to Reset Strategic Ties
Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney signed a landmark $1.9 billion, 10-year uranium supply deal for Indian nuclear power reactors. This agreement marks a significant step in resetting bilateral ties that were strained following the killing of activist Hardeep Singh Nijjar. Beyond energy, the two nations agreed to conclude the Comprehensive Economic Partnership Agreement (CEPA) within the year and established a Strategic Energy Partnership covering renewable energy and critical technologies. Canada also announced its decision to join the India-led International Solar Alliance (ISA) and the Global Biofuel Alliance as a member.
Key Points
- The 10-year uranium deal is valued at $1.9 billion and aims to fuel India's growing nuclear energy sector.
- Both nations have committed to finalizing the Comprehensive Economic Partnership Agreement (CEPA) by the end of 2025 to double bilateral trade.
- Canada has officially joined the International Solar Alliance (ISA) and the Global Biofuel Alliance, supporting India's green energy initiatives.
- Despite the deal, tensions remain regarding Canadian investigations into the alleged involvement of Indian officials in the Nijjar case.
Exam Facts
- The uranium supply deal is worth $1.9 billion over a 10-year period.
- Mark Carney is the first Canadian Prime Minister to make a bilateral visit to India since 2018.
- The CEPA (Comprehensive Economic Partnership Agreement) aims to double bilateral trade between India and Canada by 2030.
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