India and Canada announced on Monday the conclusion of several agreements covering critical minerals, uranium, technology, and renewable energy, during a meeting in New Delhi between Canadian Prime Minister Mark Carney and his Indian counterpart, Narendra Modi. The two leaders hailed a new beginning in their bilateral relations after a period of high tension.
The discussions notably resulted in a long-term uranium supply agreement for India's civilian nuclear program. According to Ottawa, this contract is worth 2,6 billion Canadian dollars, or approximately 1,6 billion euros. India, which plans to increase its nuclear capacity from 8 to 100 gigawatts by 2047, also intends to cooperate with Canada on small modular reactors and advanced nuclear technologies.
A rapprochement after diplomatic tensions
The two countries have also strengthened their cooperation in the area of critical minerals, particularly rare earth elements, which are essential for the production of advanced technologies and equipment related to the energy transition. Canada, rich in natural resources, is positioning itself as a strategic partner for India, in a context of strong global dependence on supply chains dominated by China.
This rapprochement comes after a serious diplomatic crisis that began in 2023 when Ottawa accused New Delhi of involvement in the assassination of a Sikh separatist in Vancouver, an accusation India denied. Mark Carney's visit also aims to diversify Canada's trading partners. The two leaders relaunched negotiations for a comprehensive economic partnership, with the stated goal of increasing bilateral trade to $50 billion.
