India, Canada aim for trade pact by year end, agree uranium deal

Bilateral trade expected to hit $50bn by 2030, says Indian PM Narendra Modi as he hosts his Canadian counterpart, Mark Carney, in New Delhi.Published On 2 Mar 2026India and Canada will aim to conclude a free trade ⁠pact by ⁠the end of this year, says Canadian Prime Minister Mark Carney, as the ⁠two countries seek to boost economic ties after two years of a strained relationship.Speaking after talks with Carney, Indian Prime Minister Narendra Modi on Monday said the two countries would soon finalise a “comprehensive economic partnership” which is expected to increase bilateral trade to $50bn by 2030 from nearly $9bn in 2024-25.Recommended Stories list of 4 itemslist 1 of 4Canadian PM Carney heads to India on ‘significant’ trip to consolidate tieslist 2 of 4Canada’s PM Carney in India to reset ties and bolster tradelist 3 of 4‘No longer a threat’: How Canada U-turned on India ahead of Carney visitlist 4 of 4Timeline of tensions: How India-Canada relations souredend of listIndia and Canada began advancing negotiations on a long-pending trade agreement last year. Carney said the two sides were aiming to conclude the deal by the end of the year.“This is not merely the renewal of a relationship. It is the expansion of a valued partnership with new ambition, focus, and foresight,” he said on his first official trip to New Delhi.The two sides also agreed on a $2.6bn uranium deal and will work on building small modular nuclear reactors and advanced reactors.“In civil nuclear energy, we have concluded a landmark deal for the long-term supply of uranium,” Modi said.The Indian government and Canada’s Cameco have signed a uranium supply agreement to support India’s nuclear ambitions and ⁠to work towards a clean, reliable base load ⁠power, Carney added.The two countries would also work to strengthen defence industries and enhance maritime domain awareness, Modi said.Carney’s four-day visit to India is a key step forward in ties that effectively collapsed in 2023 after Ottawa accused the Modi government of orchestrating a deadly campaign against suspected Sikh separatist activists in Canada, accusations New Delhi rejected as “absurd”.The dispute deepened and led to expulsions of diplomats and the freezing of trade negotiations.