India and Canada ink landmark agreement on cooperation in supplies of uranium

Mangalore Today News Network

New Delhi, Mar 3, 2026: Prime Minister Narendra Modi and his Canadian counterpart Mark Carney, during the latter’s visit to India, agreed to expedite the finalisation of a Comprehensive Economic Partnership Agreement (CEPA), a key highlight of their joint statement issued on Monday.

The two leaders announced a landmark long-term uranium supply deal and signed a memorandum of understanding to promote renewable energy. They also outlined enhanced cooperation in the critical minerals sector and agreed to collaborate on small modular reactors and advanced reactors under civil nuclear cooperation.

Addressing the media, Modi said, “We are pleased that Canada has decided to join the International Solar Alliance and the Global Biofuel Alliance. To further strengthen our shared efforts, we will organise the India-Canada Renewable Energy and Storage Summit this year. In civil nuclear energy, we have reached a landmark agreement for long-term uranium supply and will also work together on small modular reactors and advanced reactors.”

Highlighting growing ties in innovation and technology, he added, “India and Canada are natural partners in technology and innovation. Through the India-Canada innovation partnership, we aim to turn ideas into global solutions.” Modi also thanked the Canadian Prime Minister for his contribution to the AI Impact Summit held in Delhi.

The two sides reaffirmed their target of boosting bilateral trade to $50 billion by 2030, placing economic cooperation at the centre of their engagement.

“Today, we discussed transforming this vision into a next-level partnership. Unlocking the full potential of economic cooperation is our priority. We have therefore decided to finalise the Comprehensive Economic Partnership Agreement at the earliest. This will generate new investment and employment opportunities in both countries,” Modi said.

He noted that Canadian pension funds have invested $100 billion in India, describing it as a strong vote of confidence in India’s growth story.