From uranium to defence…these important agreements were discussed in the meeting of PM Modi-Carney

New Delhi: Amidst the increasing tension around the world and the unstable situation in West Asia, India has taken a step which will not only strengthen its economy but will also strengthen its strategic position on the global stage. In this era of geopolitical crisis, the new agreements signed between India and Canada are indicating a new beginning in the relations between the two countries.

Canadian Prime Minister Mark Carney met Prime Minister Narendra Modi at Hyderabad House in New Delhi. In this meeting, many important topics like energy, trade, investment and strategic cooperation were discussed in detail. Both the leaders emphasized on giving new direction to mutual relations and moving forward leaving behind old differences.

10 year deal on uranium

The biggest achievement of this tour is considered to be the long-term agreement regarding uranium supply. According to the information, this agreement can be for about 10 years and its possible price is said to be around 3 billion dollars. Canada is among the world’s leading uranium producing countries and India wants to ensure stable supply for its growing nuclear energy programme. Both countries have also agreed to advance civil nuclear cooperation and work together on modern projects like small modular reactors.

Cooperation in critical minerals and renewable energy

With the aim of securing the supply of minerals necessary for future technology and industries, both the countries have decided to increase cooperation in the field of critical minerals. Apart from this, an MoU related to renewable energy was also signed to promote clean energy.

Trade and Comprehensive Economic Partnership

India and Canada have also taken steps towards finalizing the Comprehensive Economic Partnership Agreement (CEPA). Both the countries have finalized the necessary documents for this. Prime Minister Modi said that this will open new opportunities for investment and trade and increase employment opportunities.

During the meeting, cooperation in the defense and security sector was also given priority. Both countries decided to strengthen defense industry, maritime security and military exchanges. It was also announced to start India-Canada defense dialogue.

There was sourness in relations

In the year 2023, there was tension in the relations between the two countries after the allegations made by the then Prime Minister of Canada Justin Trudeau. India had completely rejected those allegations and strict steps were also taken at the diplomatic level. However, in the last few months, both sides have made efforts towards normalizing relations.

PM Modi said this

Addressing the joint press meet with Canadian Prime Minister Mark Carney, PM Modi said that, "India and Canada are fully committed to democratic values ​​and celebration of diversity. We share a common vision for the betterment of humanity, which inspires us to move forward together in every field."

He further said that, "Today, we discussed taking this vision to even greater heights. Our goal is to increase our bilateral trade to $50 billion by 2030. Unlocking the full potential of our economic cooperation is our top priority. Therefore, we have decided to finalize the Comprehensive Economic Partnership Agreement soon."