India, Canada finalize billion dollars deal on uranium supply
The arrangement would involve Canada’s Cameco Corp providing uranium to India over a potential ten-year period and is expected to serve as a key element of broader nuclear collaboration between the two governments, the reports indicated.
The latest developments follow a meeting between Indian Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney on Sunday, held on the sidelines of the G20 Summit in Johannesburg. During their talks, the two leaders agreed to work toward a “comprehensive economic partnership” and revive trade negotiations that had been halted for two years due to a diplomatic dispute.
After the meeting, Modi posted on X, saying, “We appreciated the significant momentum in our bilateral ties since our earlier meeting held during the G7 Summit hosted by Canada. We agreed to further advance our relations in the coming months, particularly in trade, investment, technology and innovation, energy and education.”
India’s Foreign Ministry also noted progress, stating that “Both sides reaffirmed their longstanding civil nuclear cooperation and noted the ongoing discussions on expanding collaboration, including through long-term uranium supply arrangements.”
Relations between the two countries had soured following the 2023 G20 Summit in New Delhi, where Modi confronted then-Prime Minister Justin Trudeau about anti-India activities carried out by extremist groups operating in Canada.
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