Mark Carney’s India visit in early March may seal C$2.8 bn uranium supply agreement: Report

Canadian PM Mark Carney is expected to visit India in the first week of March, a trip that is likely to result in the signing of several high-value agreements across the energy, mining and technology sectors. Among the most significant outcomes under discussion is a proposed 10-year uranium supply agreement, estimated at C$2.8 billion, which would further strengthen the Canada–India nuclear cooperation framework, according to a Reuters report on Monday.

Carney’s visit is also expected to feature talks on critical minerals, crude oil, liquefied natural gas (LNG), and advanced technology areas such as artificial intelligence and quantum computing. The breadth of the agenda points to a renewed effort by both governments to deepen strategic and economic engagement amid shifting global alliances, supply chain disruptions, and rising trade uncertainties.

Key agreements

India’s High Commissioner to Canada, Dinesh Patnaik, confirmed that preparations for the visit are underway and indicated that early March is the likely window. Speaking in a recent interview, he said both sides are moving quickly to finalise key agreements. The timing of Canada’s Energy Minister Tim Hodgson’s visit to India around the same period further highlights the urgency and momentum behind the bilateral engagement. Patnaik added that, alongside the proposed uranium pact, a number of smaller agreements spanning nuclear energy, oil and gas, environment, education and cultural cooperation are expected to be concluded during Carney’s stay.

While the uranium deal has not yet been formally announced, Hodgson has underlined Canada’s readiness to supply nuclear fuel to India under existing international safeguards. “We know that India is a major nuclear country and it has major plans to grow its civilian use of nuclear energy,” he said, reiterating that all uranium exports would comply with International Energy Agency safeguards, in line with Canada’s non-proliferation commitments.

Critical minerals, crude oil

Beyond nuclear cooperation, both sides are working toward agreements on critical minerals as well as crude oil and LNG supplies. Hodgson stressed the strategic rationale for closer engagement with India, noting that Canada is keen to partner with large, fast-growing economies. India, for its part, is a rapidly expanding consumer of critical minerals—an area where Canada has substantial reserves and production capacity. Energy security and resilient supply chains are expected to feature prominently in bilateral discussions.

Trade ties are also set to receive a boost, with formal negotiations for a Comprehensive Economic Partnership Agreement (CEPA) likely to begin in March. Patnaik expressed confidence that a CEPA could be concluded within a year of talks commencing, potentially unlocking new opportunities for trade and investment. The renewed push comes as both countries respond to global trade tensions and recent tariff actions by major economies, prompting a search for more reliable and diversified partnerships.

Canada–India relations

Carney’s visit is widely seen as part of a broader reset in Canada–India relations following diplomatic strains in recent years. Patnaik indicated that several Indian ministers are expected to travel to Canada in the coming months, while India’s National Security Advisor is scheduled to visit Ottawa next month to continue high-level security and intelligence dialogue. Both sides have signalled a willingness to address sensitive issues through established diplomatic channels.

The urgency behind these engagements is shaped by a rapidly evolving global environment. Patnaik, referring to remarks made by Carney at the Davos summit, observed that the traditional rules-based international order is under strain, creating greater uncertainty for economies worldwide. Against this backdrop, Canada and India are keen to advance agreements that enhance mutual economic security and long-term stability.

As India simultaneously pursues trade deals with partners such as the European Union, the upcoming visit underscores a broader strategy of diversifying economic relationships. With early March approaching, attention is firmly on delivering concrete outcomes, particularly in uranium, energy and critical minerals, that could mark a new phase in Canada–India ties.