A strategic energy partnership between Canada and India has been established, centred on a C$2.6bn (US$1.8bn) uranium supply agreement alongside expanded cooperation in renewables, hydrogen and critical minerals.
The agreement was finalised during Prime Minister Mark Carney’s visit to Mumbai and New Delhi, representing the first bilateral visit to India by a Canadian Prime Minister since 2018.
The development signals a reset in relations following years of diplomatic tension.
India’s energy demand is rising faster than any other major economy over the coming decades.
With a population of 1.4 billion and rapid industrialisation, the country is scaling up nuclear, renewable and alternative fuels capacity to meet surging consumption while targeting reduced emissions and import dependence.
The uranium supply contract forms the centrepiece of the agreement.
Saskatoon-based Cameco and India’s Department of Atomic Energy have concluded a long-term deal under which Cameco will supply nearly 22 million pounds of uranium to India between 2027 and 2035, supporting fuel requirements for the country’s expanding nuclear fleet.
Chief Executive Officer of Cameco Tim Gitzel says: “Cameco is proud to be a strategic partner with India to help meet its civil nuclear fuel needs and support its trade relationship with Canada.”
