Prime Minister Narendra Modi with Canadian Prime Minister Mark Carney, in New Delhi, on Monday
| Photo Credit:
Shahbaz Khan
India and Canada agreed to fast-track negotiations on the long-discussed bilateral free trade agreement targeting a year-end conclusion, double bilateral trade to $50 billion by 2030 and signed a major CAD $ 2.6 billion uranium deal as Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney discussed taking relations to the “next level partnership” on Monday.
“We are advancing towards an India-Canada comprehensive economic partnership agreement (CEPA) with the aim to conclude it by the end of this year. This ambitious agreement will reduce barriers, increase certainty, unlock opportunity for exporters, investors and workers in both our countries with the objective of doubling trade by the end of this decade,” Carney said in his statement at the joint press meet with Modi in Delhi.
Commerce Minister Piyush Goyal and his Canadian counterpart Maninder Sidhu signed the terms of reference for the CEPA providing the format, frequency, and approach to the negotiations.
In their joint statement, Modi and Carney welcomed the conclusion of a CAD $2.6 billion commercial agreement between Cameco and the Department of Atomic Energy for the long-term supply of uranium, contributing to India’s civil nuclear energy generation, clean energy transition objectives and long-term energy security.
“In civil nuclear energy, we have signed a landmark deal for long-term uranium supply. We will also work together on small modular reactors and advanced reactors,” Modi said.
Five pacts
Five memorandums of understanding (MoUs) were exchanged, covering cooperation in critical minerals (lithium and rare earths), renewable energy, and the establishment of an India-Canada Defence Dialogue. A declaration of intent to establish a ‘Joint Pulse Protein Centre of Excellence’ was also signed.
The two leaders also discussed securing supply chains for critical minerals like lithium, strengthening energy trade, exploring joint initiatives in digital and AI cooperation and decided to step up collaboration in defence, critical technologies, small and modular nuclear reactors, education and renewable energy.
Published on March 2, 2026