India, Canada Target Trade Pact, Ink Uranium Deal
India and Canada announced plans to conclude a free trade agreement by the end of 2026, aiming to boost bilateral trade from $9 billion in 2024-25 to $50 billion by 2030. The announcement came during Canadian Prime Minister Mark Carney’s first visit to New Delhi, signaling a reset in diplomatic and economic ties after previous tensions between the two countries.
Alongside trade discussions, India and Canada finalized a C$2.6 billion ($1.9 billion) uranium deal, with both nations planning to collaborate on small modular and advanced nuclear reactors. Prime Minister Narendra Modi described the uranium agreement as a landmark for India’s civil nuclear energy ambitions, while Carney highlighted its role in providing clean and reliable power.
Relations between the two nations had deteriorated in 2023 over allegations of Indian involvement in the killing of a Canadian Sikh separatist, which New Delhi denied. Carney’s visit aims to diversify trade beyond the U.S., strengthen cooperation in clean energy, critical minerals, and agriculture, and build momentum for broader economic partnerships.
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