Mar 7 – Canada and India have signed a 10-year uranium supply agreement following talks between Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi in New Delhi on Monday, signalling a reset in previously strained diplomatic relations.The agreement forms part of a broader push to deepen cooperation in energy, trade and education between the two countries.Speaking alongside Modi, Carney described his visit as marking the start of “a new era of partnership” between Canada and India.“This visit marks the end of a challenging period and, more importantly, the beginning of a new, more ambitious partnership between two confident and complementary nations,” Carney said.He added that both countries are working towards concluding a Canada-India Economic Partnership Agreement by the end of the year.“We are advancing towards a Canada-India Economic Partnership agreement with an aim to conclude it by the end of this year,” he said.Relations between the two nations deteriorated sharply in 2023 and 2024 after the previous Canadian government alleged that Indian agents were involved in the killing of a Sikh separatist in British Columbia. The dispute triggered diplomatic expulsions and stalled trade talks.However, both governments now appear keen to rebuild ties and move forward with a comprehensive economic partnership.As part of the renewed engagement, Canadian mining company Cameco signed a $1.9 billion agreement to supply uranium to India over the next decade. The deal is expected to secure long-term Canadian uranium supplies for India’s growing nuclear energy sector.Canada is the world’s second-largest uranium producer, accounting for roughly 13 to 15 per cent of global output, while Cameco, headquartered in Saskatchewan, is one of the world’s largest publicly traded uranium companies.The agreement comes as India accelerates plans to expand its nuclear power capacity as part of its long-term energy security strategy.Currently, nuclear energy contributes just over three per cent of India’s electricity generation. The country operates 22 nuclear reactors with a combined capacity of 6,780 megawatts, but aims to increase this to 22,480 MW by 2031.Over the longer term, India plans to expand its nuclear power capacity to 100 gigawatts by 2047, significantly increasing demand for nuclear fuel.In December, India introduced legislation aimed at opening its nuclear sector to private investment for the first time, allowing selected companies to build and operate nuclear plants.The proposed law is part of a broader strategy to make nuclear energy a central pillar of India’s clean energy transition, while also allowing private firms to import and process uranium.India’s limited domestic uranium production has made long-term import agreements increasingly critical. The country produces about 600 tonnes of uranium annually, while projected demand from expanding nuclear capacity is expected to exceed 1,800 tonnes per year.Much of India’s uranium reserves are low-grade, and the planned addition of more light-water reactors will further increase reliance on imported nuclear fuel.