After thaw, bonhomie: Carney, Modi sign $2.6 billion uranium deal

NEW DELHI: A dramatic shift in India’s relationship with Canada over the past 10 months has culminated in a series of major announcements and deals, including a $2.6 billion deal to supply 22 million pounds of uranium to India between 2027 and 2035, when Prime Minister Narendra Modi held talks with his counterpart Mark Carney here on Monday.

The two leaders committed to signing the Comprehensive Economic Partnership Agreement (CEPA) before the end of this year. The two sides finalized terms of reference, announced an agreement to strengthen cooperation on critical minerals, and launched a new strategic energy partnership and defense dialogue.

Carney: Promote more diversified economy The two sides discussed each other’s security concerns – separatist activities in India and cross-border crackdowns in Canada – but the two leaders avoided explicit mention of these issues in media addresses and endorsed continued security cooperation and a focus on strengthening their relationship at the meeting.Modi expressed appreciation for Carney’s increasing momentum of cooperation in various fields. The Canadian Prime Minister responded that this was not only a renewal of the relationship but also an expansion of the partnership as India and Canada transform their respective economies to be more diversified, more independent and more resilient.However, the Ministry of Foreign Affairs (MEA) later dismissed accusations of involvement in transnational violence or organized crime reported by Canadian media, saying they were baseless, politically motivated and “not supported by reliable evidence despite repeated requests.”

“India believes that concerns of this nature must be addressed through credible law enforcement and judicial processes and not through public or politicized narratives,” MEA Secretary (East) P Kumaran said. The official was responding to questions from Canadian media about reports that Indian officials in Vancouver were involved in the killing of Sikh separatist Hardeep Nijjar, as well as Canadian coverage of the Modi-Kani meeting that said Canada would continue to take steps to combat transnational repression. According to Canada’s notification, the two leaders agreed to advance bilateral cooperation on security and law enforcement, including issues of mutual interest to Canada and India.Modi said that the driving force for the forward development of relations between the two countries comes from the unbreakable trust between the two sides in democratic values, diversity and humanity, and the goal is to reach an annual trade volume of US$50 billion by 2030. Canada said CEPA could bring in $70 billion in trade volume over the next five years. While 8 agreements/MoUs were signed at the government level, 24 other agreements or partnerships were announced between universities and institutions in areas such as artificial intelligence, healthcare, agriculture and innovation. The Australia-Canada-India Technology and Innovation Partnership also signed a memorandum of understanding to develop and deploy artificial intelligence.Modi said: “Unlocking the full potential of economic cooperation is our top priority. Therefore, we have decided to finalize CEPA as soon as possible, which will create new opportunities for investment and employment in both countries.” The Prime Minister said: “With Canada and India as innovation partners, we will transform ideas into global solutions.” He emphasized that the memorandum of understanding on critical minerals will also enhance the resilience of supply chains.Although Carney did not address the issue of terrorism, Modi said they agreed that terrorism, extremism and radicalization are common and serious challenges not only to both countries but to all mankind.