India and Canada announced a wide-ranging reset in bilateral ties on Monday, including a “landmark deal for long-term uranium supply, new defence dialogue, and an ambitious target to raise trade to $50 billion by 2030.Soon after Prime Minister Narendra Modi met visiting Canadian Prime Minister Mark Carney, the two sides also signed pacts on critical minerals, decided to establish the India-Canada Defence Dialogue, agreed to conclude a comprehensive economic partnership agreement by the end of 2026, and discussed transforming the ties into a “next level partnership”.This is a massive turnaround in the ties, which had suffered a huge setback after then-Canadian PM Justin Trudeau alleged in September 2023 that Indian government agents were involved in the killing of pro-Khalistan separatist figure Hardeep Singh Nijjar. India had rejected the allegations, calling them “absurd” and “politically motivated”.Calling this an “important milestone”, PM Modi said, “Since our first meeting, our relationship has been infused with new energy, mutual trust, and positivity. I credit my friend, Prime Minister Carney, for the growing momentum in every area of cooperation.”“India and Canada share an unwavering belief in democratic values. We celebrate diversity. The well-being of humanity is our shared vision. This vision inspires us to move forward in every field. Today, we discussed transforming this vision into a Next Level Partnership,” Modi said.On his part, Carney said, “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 own course for the future”.Without mentioning the pro-Khalistan activities in Canada, Modi said, “We agree that terrorism, extremism, and radicalisation are common and serious challenges not only for our two countries but for all of humanity. Our close cooperation against these challenges is crucial for global peace and stability.”Story continues below this adFrom trade and defence to space sectorPM Modi said the “goal is to reach $50 billion in trade by 2030”. “Unlocking the full potential of economic cooperation is our priority. Therefore, we have decided to finalise the Comprehensive Economic Partnership Agreement soon. This will create new investment and employment opportunities in both countries,” he added.Carney said that the target was to conclude the pact by the end of 2026. “We’re advancing towards a Comprehensive Economic Partnership Agreement, with the aim to conclude by the end of this year. This ambitious agreement will reduce barriers, increase certainty, unlock opportunities for exporters, investors and workers in both our countries, with the aim to double trade by the end of this decade.”Also Read | Mark Carney’s visit is about a vital reset in India-Canada tiesPM Modi said, “Canada’s pension funds have invested $100 billion in India. This is a symbol of their deep belief in India’s growth story.”He said that the pact signed on critical minerals will “strengthen resilient supply chains”.Story continues below this adOn defence, Modi said growing cooperation reflects “deep mutual trust and the maturity of our relationship”. “We will work to enhance defence industries, maritime domain awareness, and military exchanges. To this end, we have today decided to establish the India-Canada Defence Dialogue.”Carney said India and Canada are renewing defence and security cooperation through a new defence partnership. This includes maritime collaboration in the Indo-Pacific, professional military exchanges and coordination on shared security interests.In the space sector, PM Modi said that they will connect startups and industries from both countries. “We are natural partners in technology and innovation. With the Canada and India innovation partnership, we will turn ideas into global solutions,” Modi said.Healthcare, agriculture, and innovationOn education cooperation, Modi described people-to-people ties as the foundation of the relationship.Story continues below this ad“Today, we took several important decisions to further strengthen them. New partnerships between several universities in AI, healthcare, agriculture, and innovation are being announced. We also agreed on Canadian universities opening campuses in India.”He thanked Canada for contributing to the AI Impact Summit held in India last month, saying both countries will expand cooperation in AI, as well as quantum, supercomputing, and semiconductorsAlso Read | Canada no longer links India to violent crimes on its soil, says senior officialStating that for Carney, environment is not a separate agenda, but rather a part of economic stability, Modi said, “In the energy sector, we are building a Next Generation Partnership, which will place special emphasis on hydrocarbons, as well as renewable energy, green hydrogen, and energy storage.”“We are pleased that Canada has decided to join the International Solar Alliance and the Global Biofuel Alliance. To advance our shared efforts, we will hold the India-Canada Renewable Energy and Storage Summit this year,” he said.Story continues below this ad“In civil nuclear energy, we have signed a landmark deal for long-term uranium supply. We will also work together on Small Modular Reactors and advanced reactors,” he said.On agriculture ties, he said, “Value addition in agriculture, agri-technology, and food security are our shared priorities. To this end, an India-Canada Pulse Protein Centre of Excellence will be established in India.”Stating that indigenous and tribal communities are an important part of shared cultural heritage, he said that the two sides have also signed a pact to enhance cultural exchange.Canada, Modi said, is an important partner for India in the Indo-Pacific. “We welcome their interest in becoming a Dialogue Partner in the Indian Ocean Rim Association. This will add new depth to our maritime cooperation,” he said.Story continues below this adCarney was in Mumbai from February 27 to March 1, and he arrived in Delhi on Sunday night. He met business leaders and education leaders in Mumbai.