Canada and India Sign $1.9B Uranium Deal, Expand Trade to $50B
India and Canada agreed to a Comprehensive Economic Partnership Agreement targeting bilateral trade growth from $9B to $50B over five years and sealed a $1.9B uranium supply deal to support India’s expanding civil nuclear program. The pact opens talks on critical minerals, small modular reactors and clean energy technologies.
1. CEPA Trade Targets
The Comprehensive Economic Partnership Agreement between Canada and India aims to boost bilateral trade from $9B currently to $50B over the next five years, covering sectors such as energy, technology and raw materials. It marks a diplomatic renewal and lays groundwork for expanded market access and tariff reductions.
2. $1.9B Uranium Supply Deal
Under the pact, Canada will supply $1.9B of uranium to support India’s civil nuclear energy program, securing long-term fuel for planned capacity expansions and small modular reactor deployments. This deal bolsters India’s strategy to scale nuclear output and diversify its energy mix.
3. Strategic Diversification and Tech Talks
Negotiations will also address critical minerals, clean energy technologies and advanced nuclear systems, aiming to reduce dependency on China and the U.S. and strengthen supply chain security. Canadian mining firms and India’s technology industries stand to gain from new investment and collaboration opportunities.