As it looks for new alliances amid tensions with the United States, Canada has inked a number of agreements with India to strengthen ties in areas like energy and vital minerals. and India established a new energy relationship, which includes an agreement for Canadian company Cameco to deliver uranium to India for nuclear energy from 2027 to 2035 for a total of 2.6 billion Canadian dollars, or US$1.91 billion, the Canadian prime minister's office announced on Monday.
According to the statement, the two nations will sign a new Comprehensive Economic Partnership Agreement this year with the goal of doubling two-way trade to C$70 billion by 2030.That occurred while Canadian Prime Minister Mark Carney was in India to mend years of tense bilateral relations and strengthen business links that would lessen Canada's economic dependency on the United States. has also visited China, where he worked with Beijing to achieve a trade detente. Canada has stated that it wants to increase trade by C$300 billion by doubling its non-US exports over a ten-year period.
According to the statement released on Monday, additional agreements with India were made to strengthen collaboration on vital minerals and technologies.
It stated that "Canada and India have enormous strengths and growing ambitions in the technology sector, particularly in AI, quantum, and aerospace."
By 2030, HCL Technologies, the third-biggest provider of IT services in India, plans to grow its operations in Canada and hire 75% more people.According to the statement, Carney and his team met with corporate executives from a variety of industries and inked business agreements totaling more than C$5.5 billion that will generate thousands of employment in Canada.
Carney and Indian Prime Minister Narendra Modi also decided to strengthen their bilateral security and law enforcement cooperation.
Carney is scheduled to visit Australia and Japan after India.