India-Canada CEPA: Ottawa Nears $2.8 Billion Uranium Agreement

Recent reports indicate that Canada and India are on the verge of finalizing an export agreement valued at approximately $2.8 billion. This collaboration is primarily centered around the export of uranium, as highlighted by the Globe and Mail on November 24, 2025.

If the deal moves forward, it would allow Canada to supply uranium to India over a decade. Cameco Corp, a prominent Canadian company, is expected to play a significant role in this supply chain. Moreover, this arrangement might signify a larger framework for nuclear cooperation between the two nations.

As of now, both the Centre, the Union Ministry of Commerce and Industry, and the respective Canadian government entities have not responded to inquiries from Reuters for further comments. The validity of these reports remains unconfirmed.

On another important note, Prime Minister Mark Carney from Canada engaged in discussions with Prime Minister Narendra Modi amidst the G-20 summit in South Africa. This meeting was pivotal for the two countries as they agreed to renew halted negotiations concerning a new trade agreement.

Following a period of diplomatic tensions over the last two years, the leaders expressed their commitment to initiating talks for a Comprehensive Economic Partnership Agreement (CEPA). This ambitious agreement aims to double trade between the two countries to $50 billion by 2030, according to an official statement from India’s Prime Minister’s Office.