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India, Canada Near Uranium Supply Agreement
(MENAFN) India and Canada are reportedly finalizing a $2.8 billion arrangement for uranium deliveries, signaling a thaw in relations between the two nations that experienced diplomatic strains over the past two years, media outlets reported on Monday.
According to sources familiar with the matter, the agreement would have Canada’s Cameco Corp provide uranium to India and could extend for a decade.
This pact is expected to form part of a wider framework of nuclear collaboration between New Delhi and Ottawa.
On Sunday, Indian Prime Minister Narendra Modi engaged in discussions with his Canadian counterpart, Mark Carney, during the G20 Summit in Johannesburg.
The leaders concurred on advancing a “comprehensive economic partnership” and reviving trade negotiations that had been suspended for two years amid the diplomatic discord.
After the meeting, Modi shared on X, “We appreciated the significant momentum in our bilateral ties since our earlier meeting held during the G7 Summit hosted by Canada. We agreed to further advance our relations in the coming months, particularly in trade, investment, technology and innovation, energy and education.”
The Indian Foreign Ministry also noted, “Both sides reaffirmed their longstanding civil nuclear cooperation and noted the ongoing discussions on expanding collaboration, including through long-term uranium supply arrangements.”
Ties between India and Canada had worsened following the G20 Summit in New Delhi in 2023.
According to sources familiar with the matter, the agreement would have Canada’s Cameco Corp provide uranium to India and could extend for a decade.
This pact is expected to form part of a wider framework of nuclear collaboration between New Delhi and Ottawa.
On Sunday, Indian Prime Minister Narendra Modi engaged in discussions with his Canadian counterpart, Mark Carney, during the G20 Summit in Johannesburg.
The leaders concurred on advancing a “comprehensive economic partnership” and reviving trade negotiations that had been suspended for two years amid the diplomatic discord.
After the meeting, Modi shared on X, “We appreciated the significant momentum in our bilateral ties since our earlier meeting held during the G7 Summit hosted by Canada. We agreed to further advance our relations in the coming months, particularly in trade, investment, technology and innovation, energy and education.”
The Indian Foreign Ministry also noted, “Both sides reaffirmed their longstanding civil nuclear cooperation and noted the ongoing discussions on expanding collaboration, including through long-term uranium supply arrangements.”
Ties between India and Canada had worsened following the G20 Summit in New Delhi in 2023.
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