India-Canada Summit: Uranium Supply Deal and $50 Billion Trade Target

India and Canada have Notably strengthened their strategic and economic ties with the signing of a landmark agreement for the long-term supply of uranium and the setting of a $50 billion bilateral trade target. The developments came during a high-level meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney at Hyderabad House in New Delhi on Monday. The discussions focused on energy security, economic expansion, and technological collaboration, marking a new chapter in the diplomatic relations between the two nations. PM Modi emphasized that the partnership is aimed at creating global solutions through shared innovation and strategic trust.

Civil Nuclear Cooperation and Uranium Supply

A primary outcome of the bilateral talks is the historic agreement for the long-term supply of uranium to India. Prime Minister Modi stated that this arrangement is crucial for India's energy security and its transition toward cleaner energy sources. Beyond fuel supply, the two leaders agreed to collaborate on cutting-edge nuclear technologies, including Small Modular Reactors (SMRs) and other advanced reactor designs. This cooperation in the civil nuclear sector is expected to facilitate technical exchanges and support India's growing demand for carbon-free baseload power, aligning with global climate goals.

Defense Partnership and Strategic Dialogue

' This mechanism is designed to enhance cooperation between the defense industries of both nations, improve maritime domain awareness, and increase military-to-military exchanges. Prime Minister Modi noted that the growing synergy in defense and security reflects the maturity of the relationship and a high level of mutual trust. The dialogue will serve as a platform to address shared security challenges and promote stability in the Indo-Pacific region through institutionalized cooperation.

Innovation, AI, and Critical Minerals

The bilateral meeting also saw the signing of a Memorandum of Understanding (MoU) on Critical Minerals, aimed at strengthening the resilience of global supply chains. According to officials, this agreement will ensure the steady availability of minerals essential for high-tech manufacturing and the green energy transition. Also, the two countries are expanding their innovation partnership to include Artificial Intelligence (AI), Quantum Computing, Supercomputing, and Semiconductors. PM Modi thanked PM Carney for Canada's contribution to the 'AI Impact Summit' held in India last month, highlighting that the joint efforts would transform ideas into scalable global solutions.

Agriculture and Renewable Energy Initiatives

To bolster food security and agricultural research, the leaders announced the establishment of the 'India-Canada Pulse Protein Center of Excellence' in India. This center will focus on advanced research in pulses and protein-based food security. In the energy sector, Canada has officially decided to join the International Solar Alliance (ISA) and the Global Biofuel Alliance. To further these efforts, both nations will organize the 'India-Canada Renewable Energy and Storage Summit' later this year. The partnership will also prioritize Green Hydrogen and next-generation energy storage solutions to meet future sustainability targets.

Geopolitical Stability and Global Concerns

Addressing the prevailing global tensions, Prime Minister Modi reiterated India's stance on peace and stability. He expressed deep concern over the current situation in West Asia (Middle East) and emphasized that India supports the resolution of disputes through dialogue and diplomacy. The Prime Minister remarked that when two major democracies stand together, the voice for peace becomes stronger. He also affirmed that India would continue to work with all nations to ensure the safety and security of Indian citizens in volatile regions, maintaining a commitment to international cooperation and humanitarian stability.

#WATCH | Delhi: Prime Minister Narendra Modi meets Canadian Prime Minister Mark Carney at Hyderabad House.

(Source: DD News) pic.twitter.com/YcJBMXK8LI

— ANI (@ANI) March 2, 2026