New Delhi, March 3 Recently concluded $2.6 billion uranium supply agreement of Canada with India strengthens Ottawa’s economic ties in the Indo‑Pacific, uses India's sheer "scale of industrial growth" and helps reduce reliance on US as a single market, a report has said.
The report from One World Outlook said the agreement, announced as part of a broader Strategic Energy Partnership, links a premium Canadian resource to one of the world’s fastest-growing energy markets marking a shift from Ottawa's tendency "to treat India as either a diaspora story or a diplomatic headache."
In New Delhi, Canada and India announced a “Strategic Energy Partnership” that will see Cameco supply nearly 22 million pounds of uranium from 2027 to 2035 to fuel India’s civil nuclear reactors.
The pact spans across fuels such as "LNG, LPG, uranium, solar, and hydrogen, an intentional bundle that treats energy not as a commodity transaction, but as the anchor for a wider economic reset," the report said.
With this partnership Ottawa started viewing India as “simply, scale: scale of population, scale of energy demand, scale of industrial growth, and scale of geopolitical weight," it said. The Canadian readout leans into that reality, calling India the world’s fastest-growing major economy and emphasizing its rising energy demand, it added.
Further analysts said the transformative element of increased bilateral ties is Canada and India moving to conclude a Comprehensive Economic Partnership Agreement (CEPA), with chief negotiators meeting and terms of reference signed.
The Canadian government is explicitly tying CEPA to a goal of more than doubling two-way trade to $70 billion by 2030, it suggested.
Prime Minister Narendra Modi and his Canadian counterpart Mark Carney discussed restoring diplomatic staffing levels in both countries to their previous strength, the Ministry of External Affairs confirmed on Monday.
After Carney took over as the Canadian PM, some calibrated steps to restore India-Canada ties have been taken, leading to the appointment of Dinesh K Patnaik as the Indian High Commissioner to Canada.
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