Carney Meets Modi In New Delhi, Marking A New Chapter In Ties

Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi pledged to boost cooperation in trade and supply chains during Carney’s first official visit to India , as the two nations look to reset relations following years of strain.

Among a slate of initiatives, Carney announced a $2.6 billion agreement expanding Canada’s uranium shipments to India for nuclear energy generation. The two sides also finalized the terms of reference for a trade deal, underscoring efforts to diversify their trade partnership and curb their dependency on the United States.

Carney hailed “a new era of partnership” between the two nations “that will offer generational opportunities to workers and businesses in both of our nations.”

“This is not merely the renewal of a relationship. It is the expansion of a valued partnership with new ambition, focus, and foresight,” Carney said, according to prepared remarks. The leaders spoke at a joint press conference following a bilateral meeting at Hyderabad House, a colonial-era state guest house used for high-level diplomatic meetings.

“Our priority is to unlock the full potential of the economic partnership,” Modi said. “India and Canada are natural partners in technology and innovation.”

Carney also extended an invitation to Modi to visit Canada, which a Carney spokesman said was accepted but no timing was given.

Carney’s four-day visit to India marks the first by a Canadian prime minister in eight years, and marks one of the most concrete steps in an effort to reset a badly strained bilateral relationship. Starting in 2023, Prime Minister Justin Trudeau accused India of orchestrating the killing of a Sikh activist and conducting a campaign of violence, intimidation and extortion against Canadian citizens. India denied the allegations.

In the last year, the two sides have worked behind closed doors to increase cooperation and exchange information on security related issues. The two leaders are also boosting cooperation on trade and technology. In his remarks, Carney said that the last year has seen more engagement between the Canadian and Indian governments than in the previous two decades combined.

The meeting between the two leaders comes against the backdrop of heightened tensions in the Middle East following U.S.-Israeli strikes on Iran that killed the supreme leader Ayatollah Ali Khamenei, and Iran’s retaliation.

In addition to the new uranium supply deal — in which Saskatoon-based Cameco Corp. will supply nearly 22 million pounds of uranium through to 2035 — the two sides announced agreements to boost cooperation on critical minerals, energy supplies and education.

The two sides have said they expect a trade deal to double two-way trade to about $50 billion by 2030.

Carney kicked off his visit in Mumbai this weekend where he held meetings with leaders in business and education. On Monday, he’ll address the India-Canada CEO’s forum after meeting Modi.

For India, the trip presents an opportunity to consolidate economic partnerships with a key Western partner following a trade dispute with the US in which the Trump administration slapped punitive tariffs of 50% on India, among the highest in the world at the time. Those tariffs have come down, but New Delhi has since been pressing for new partnerships on trade globally.

Meanwhile, New Delhi is navigating the fallout of the widening conflict in the Middle East, home to several million of its citizens. Modi is separately navigating a domestic backlash over his trip to Israel last week, which opposition groups said gave tacit approval for Israel’s strikes on Iran.

• Cameco signs $2.6 billion uranium deal with India
• Canada, India to sign 'immense' range of trade deals during Carney visit

—With assistance from Shruti Srivastava.

Bloomberg.com