India, Canada Near Rs 233 Billion Uranium Supply Deal

28 Nov 2025 CW Team

Soon after launching negotiations on a comprehensive economic partnership agreement (CEPA), Ottawa and New Delhi are close to finalising a USD 2.8 billion (around Rs 233 billion) deal to supply uranium to India’s nuclear power plants.

According to a report in the Globe and Mail, the agreement could span ten years and may form part of a broader nuclear cooperation framework between the two countries.

Following a meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney on the sidelines of the G20 Leaders’ Summit in Johannesburg, India’s Ministry of External Affairs said both leaders had “reaffirmed” their long-standing civil nuclear cooperation and discussed expanding it through long-term uranium supply arrangements.

The uranium will be supplied by Cameco Inc., based in Saskatchewan. The company earlier had a supply agreement with India’s Department of Atomic Energy, which expired in 2020. That agreement was signed after Prime Minister Modi’s 2015 visit to Canada and was enabled by the Canada–India Nuclear Cooperation Agreement, in force since September 2013.

A more extensive nuclear partnership may also be developing, with India expressing interest in small modular reactors, a senior official indicated earlier.

The prospective deal comes shortly after the announcement of the Australia–Canada–India Technology and Innovation (ACITI) Partnership at a trilateral meeting in Johannesburg involving Modi, Carney and Australian Prime Minister Anthony Albanese. The initiative aims to deepen collaboration across emerging technologies, diversify supply chains, strengthen clean energy cooperation and support wider adoption of AI.

If finalised, the uranium supply agreement will mark a major milestone in India–Canada cooperation and reinforce India’s growing civil nuclear capacity.

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