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Canada and India Forge “New Partnership” with Landmark Deals
New Delhi, India – In a significant diplomatic shift, Canada and India have embarked on a “new partnership,” finalizing several key agreements, including a 10-year nuclear energy deal and an ambitious target to reach $50 billion in bilateral trade within the next five years. The agreements were the culmination of Canadian Prime Minister Mark Carney’s visit with Indian Prime Minister Narendra Modi in Delhi on Monday.
During a joint appearance, Prime Minister Carney emphasized the depth of this renewed relationship, stating, “This is not merely the renewal of a relationship. It is the expansion of a valued partnership with new ambition, focus and foresight – a partnership between two confident countries charting our course for the future.” Prime Minister Modi reciprocated, crediting Carney for fostering new cooperation between the two nations.
This diplomatic resurgence follows a period of strained relations in 2023, sparked by former Canadian Prime Minister Justin Trudeau’s allegations linking India to the assassination of Sikh separatist leader Hardeep Singh Nijjar. The accusations led to the expulsion of several Indian diplomats from Canada.
“This vision inspires us to move forward in every field. Unlocking the full potential of economic cooperation is our priority,” Modi affirmed, highlighting the shared commitment to economic growth.
A major component of this new partnership is the plan to establish a free trade deal by the end of 2026. This initiative aims to alleviate the impact of U.S. tariffs and streamline trade between Canada and India.
Ultimately, Carney and Modi inked five memorandums of understanding. Among these is a substantial $2.6 billion agreement for Canadian-based Cameco to supply approximately 22 million pounds of uranium to India for nuclear energy purposes between 2027 and 2035.
Beyond energy, the new deals encompass collaborations in cutting-edge fields such as artificial intelligence, supercomputing, and semiconductors. Both nations also plan to co-host a renewable energy summit. Further solidifying the partnership, Indian firm HCL Technologies is set to open two new AI centers in Canada and expand an existing one in Vancouver, while OCT Therapies & Research intends to establish medicine manufacturing facilities in New Brunswick.