India and Canada signed a landmark agreement on Monday for the supply of uranium ore concentrates worth approximately C$2.6 billion ($1.9 billion), bolstering civil nuclear energy cooperation between the two nations.

The deal involves Canada's Cameco Corp. providing nearly 22 million pounds of uranium (U₃O₈) to India's Department of Atomic Energy, with deliveries scheduled to begin in 2027 and continue through 2035. The contract supports India's ambitious plan to expand its nuclear power capacity to 100 gigawatts by 2047 under the Viksit Bharat initiative, up from its current fleet of 24 operating reactors.

The agreement was one of several outcomes from Canadian Prime Minister Mark Carney's first official visit to India from February 27 to March 2. Speaking after bilateral talks with Indian Prime Minister Narendra Modi in New Delhi, Modi highlighted the pact, stating, "In civil nuclear energy, we have reached a landmark deal for long-term uranium supply. We will also work together on small modular reactors and advanced reactors."

Carney described the deal as part of a new Strategic Energy Partnership encompassing liquefied natural gas, critical minerals, solar, and hydrogen. "India is embarking on an ambitious nuclear expansion to power its development plans," Cameco CEO Tim Gitzel said, noting the company's role as a strategic partner.

The nuclear pact comes amid a broader reset in bilateral ties, strained since 2023 over Canada's allegations of Indian involvement in the killing of Sikh separatist Hardeep Singh Nijjar, which India denied. Relations have improved under Carney's government, which has distanced itself from prior accusations.

Leaders also finalized terms of reference for a Comprehensive Economic Partnership Agreement (CEPA), aiming to conclude the free trade deal by the end of 2026. They set a target of $50 billion in bilateral trade by 2030, with Canada seeking to more than double current volumes to $70 billion. Additional memorandums of understanding cover critical minerals supply chains, renewable energy promotion, and defense cooperation.

The visit yielded over 10 commercial deals worth more than $5.5 billion, focusing on technology, AI, talent mobility, and clean energy. Canada plans to join the International Solar Alliance and upgrade its role in the Global Biofuels Alliance.

This uranium agreement revives nuclear ties dormant since a prior five-year Cameco supply contract ended, positioning both countries to meet rising global demand for clean energy amid constrained uranium supplies.