"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."
"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."
"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."
India and Canada are revitalizing their economic partnership after a two-year period of strained relations. Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney announced plans to boost bilateral trade from approximately $9 billion in 2024-25 to $50 billion by 2030 through a comprehensive economic partnership. The two countries aim to finalize a free trade agreement by the end of the year. A landmark $2.6 billion uranium supply deal was concluded, with plans to develop small modular and advanced nuclear reactors. Additionally, both nations agreed to strengthen defence industries and enhance maritime domain awareness. Carrey's visit marks significant progress in rebuilding ties after diplomatic tensions in 2023.
#india-canada-trade #free-trade-agreement #nuclear-energy #uranium-supply-deal #diplomatic-relations
Read at www.aljazeera.com
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