Canada and India Sign $2.6 Billion Uranium Deal to Boost Trade to $70 Billion by 2030
Canada and India have announced a $2.6 billion uranium export agreement, aiming to double bilateral trade to $70 billion by 2030. The deal, involving Saskatoon-based Cameco, will supply nearly 22 million pounds of uranium between 2027 and 2035. The partnership includes expanded cooperation in liquefied natural gas, refined petroleum products, and critical minerals, with a focus on energy security and clean energy technologies. A Comprehensive Economic Partnership Agreement is also being negotiated to enhance trade relations further.
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Canada and India signed a $2.6 billion uranium supply agreement during Prime Minister Mark Carney's visit to New Delhi, with plans to double bilateral trade to $70 billion by 2030. The deal with Cameco will provide nearly 22 million pounds of uranium from 2027 to 2035, supporting India's nuclear energy expansion.
Additionally, both nations agreed to enhance cooperation in energy sectors, including liquefied natural gas and critical minerals. Negotiations for a Comprehensive Economic Partnership Agreement (CEPA) are set to conclude this year, aimed at boosting trade further. India's goal is to increase its nuclear capacity to 100 gigawatts by 2030.
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