Source BBC
NEW DELHI — In a high-stakes diplomatic breakthrough, Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney have officially “reset” the long-strained relationship between their two nations, signing a series of landmark deals worth billions of dollars.
The meeting at Hyderabad House on Monday marked the first bilateral visit by a Canadian leader since 2018, signaling a decisive end to the frosty relations that followed the 2023 diplomatic row. The two leaders unveiled a sweeping “New Partnership” framework aimed at doubling bilateral trade to $50 billion by 2030.
A Landmark Nuclear and Energy Alliance
The centerpiece of the visit is a massive $2.6 billion agreement with Saskatchewan-based Cameco. Under the deal, Canada will supply nearly 22 million pounds of uranium to India between 2027 and 2035 to fuel India’s expanding civil nuclear energy sector.
“This is not merely the renewal of a relationship,” Prime Minister Carney stated. “It is the expansion of a valued partnership with new ambition, focus, and foresight.”
Key Highlights of the “New Partnership”
The summit produced five major Memorandums of Understanding (MoUs) and over 10 commercial agreements totaling more than $5.5 billion.
Trade: Both nations signed the Terms of Reference for a Comprehensive Economic Partnership Agreement (CEPA), with a commitment to finalize the free-trade deal by the end of 2026.
Critical Minerals: A new pact was established to secure supply chains for minerals essential to the green energy transition and high-tech manufacturing.
Defense & Security: The leaders launched the India-Canada Defence Dialogue, focusing on maritime domain awareness and professional military exchanges in the Indo-Pacific.
Technology & AI: Agreements were reached to connect startups and collaborate on artificial intelligence and space exploration.
Education: The University of Toronto announced up to $100 million for scholarships and research positions for Indian students.
Economic Targets and Global Strategy
The “Carney-Modi Reset” comes at a strategic moment for both leaders. For Canada, the deal represents a “push to diversify trade” away from the United States amid tense relations with the Trump administration. For India, the partnership secures the resources needed to power its massive manufacturing ambitions.
Prime Minister Modi credited Carney’s leadership for the “new energy and mutual trust” now defining the relationship. Beyond economics, the leaders addressed “transnational organized crime” and security concerns, pledging to cooperate on law enforcement and the illegal flow of drugs.
