In a rapidly changing world, Canada is focused on what we can control. We are building our economic strength at home and diversifying our partnerships abroad. As the world’s fastest-growing major economy, India presents extraordinary opportunities. With a population of 1.4 billion, its energy demand is increasing faster than anywhere else in the world – equal to that of China and Southeast Asia combined.Canada is an energy and agricultural superpower, and a leader in critical minerals, artificial intelligence (AI), and advanced manufacturing – precisely the sectors India is scaling at speed.. Canada and India have had an historically strong, productive relationship. In 2024, total direct and indirect Canadian investment in India surpassed $110 billion. As both our nations embark on parallel missions to build and transform our respective economies and diversify key supply chains, we are forging a new partnership to leverage each other’s strength and ambition.. To that end,the Prime Minister, Mark Carney, visited Mumbai and New Delhi, India, this week. This marked the first bilateral visit to India by a Canadian Prime Minister since 2018. With this visit, in addition to ministerial and official level meetings, there has been more engagement between the Canadian and Indian governments this year than in any year over the past two decades.. In New Delhi, Prime Minister Carney met with the Prime Minister of India, Narendra Modi. Following their meeting, the leaders released a joint statement, welcomed five Memorandums of Understanding (MOU), and announced a broad range of ambitious initiatives that will renew and expand the Canada-India partnership across energy and critical minerals, technology and AI, talent and culture, and defence.. Foundational to the Canada-India strategic partnership is strong, stable cooperation in trade. In New Delhi, Prime Minister Carney and Prime Minister Modi confirmed that Canada and India will conclude a new Comprehensive Economic Partnership Agreement (CEPA) this year, following a meeting of chief negotiators in New Delhi and the finalisation and signing of the Terms of Reference for the CEPA. The CEPA will advance Canada’s goal to more than double two-way trade to $70 billion by 2030.. To leverage our strengths as complementary economies, Canada and India announced a new Strategic Energy Partnership, including in LNG, LPG, uranium, solar, and hydrogen. As the first steps, the leaders welcomed:. A landmark $2.6 billion agreement between the Government of India and Saskatoon-based Cameco to supply nearly 22 million pounds of uranium to India for nuclear energy generation from 2027 to 2035.. Two MOUs to intensify cooperation on critical minerals and energy sources, supporting technical and commercial engagement, and diversifying supply chains.. Strengthened collaboration on clean energy initiatives in solar, wind, biofuels, and hydropower, including announcing that Canada intends to join the International Solar
