India, Canada aim for trade pact by year end, agree uranium deal
Al Jazeera
March 2, 2026
AI-Generated Deep Dive Summary
India and Canada are accelerating negotiations to finalize a free trade agreement by the end of this year, aiming to boost bilateral trade to $50 billion by 2030. During Prime Minister Narendra Modi’s meeting with Canadian counterpart Mark Carney in New Delhi, both leaders emphasized the importance of deepening economic ties after a period of strained relations. The agreement is expected to not only enhance trade but also strengthen India-Canada collaboration across various sectors, including clean energy and defense.
The two nations also reached a significant uranium deal worth $2.6 billion, which will support India’s nuclear power ambitions. Under this agreement, Canada’s Cameco company will supply uranium to help meet India’s growing energy demands while promoting sustainable and reliable energy solutions. Additionally, both countries plan to collaborate on building small modular nuclear reactors and advanced power plants, marking a key step in their clean energy partnership.
The renewed focus on trade ties comes after a downturn in relations in 2023, triggered by political tensions over Sikh separatist issues in Canada. However, the双方 have made strides in rebuilding connections through increased dialogue and engagement. Carney’s four-day visit to India is seen as a crucial step toward resetting their relationship and moving past previous disputes, which had led to diplomatic expulsions and frozen negotiations.
Both India and Canada are looking to diversify their trade relationships beyond the United States, driven by changes in tariffs and a desire to strengthen partnerships in areas like critical minerals and agricultural value chains. This shift aligns with global trends of countries seeking alternative trade partners to reduce dependency on major economies like the U.S. For India, this move also follows its recent free-trade pact with the European Union and a pause in negotiations with the U.S.
The重启 of India-Canada trade talks is significant for both nations as they seek to expand their economic influence and strengthen partnerships in key areas such as clean energy and defense. The agreement not only promises to boost bilateral trade but also underscores both countries’ commitment to fostering a more diversified and resilient global economy.
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Originally published on Al Jazeera on 3/2/2026