Canada-India: A $2.8 Billion Nuclear Agreement in the Making

Canada and India are nearing a $2.8 billion export agreement for uranium supply, marking a significant step in nuclear cooperation. The 10-year deal involves Canada's Cameco Corp. supplying uranium to India. Prime Ministers Carney and Modi also discussed resuming trade talks to enhance bilateral commerce.

In a significant development, Canada and India are reportedly close to sealing a $2.8 billion deal for the export of uranium, according to reliable sources cited by the Globe and Mail. This agreement, which could last for a decade, involves Canada's Cameco Corp. supplying uranium to India.

The move is seen as part of broader efforts by the two nations to enhance nuclear cooperation. The Indian government, alongside the country's Trade Ministry, along with their Canadian counterparts, have yet to officially comment on the development.

Further bolstering bilateral ties, Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi met on the sidelines of the G20 summit in Johannesburg. The meeting resulted in an agreement to restart halted negotiations for a Comprehensive Economic Partnership Agreement, with the ambitious goal of doubling trade to USD 50 billion by 2030.

(With inputs from agencies.)