Canada’s Cameco Corp. has entered into a C$2.6 billion ($1.9 billion) agreement to supply uranium to India, marking a significant step in energy cooperation between the two countries. The Canada-India uranium deal was signed on 2nd March, 2026, during Canadian Prime Minister Mark Carney’s first official visit to India, underscoring efforts to deepen bilateral ties. Under the terms outlined in a statement from Carney’s office, Cameco will deliver 22 million pounds of reactor fuel to India over the period from 2027 through 2035. Alongside the uranium supply arrangement, both nations committed to broader collaboration in areas including liquefied natural gas, critical minerals, solar and hydrogen.
India currently maintains a uranium import contract with Uzbekistan. At present, India’s nuclear fleet generates 8.8 gigawatts, accounting for less than 2% of total installed power capacity, highlighting the scale of expansion envisioned under its long-term energy plans.
The Canada-India uranium deal signals a renewed phase in India-Canada relations that had deteriorated in 2023 after Ottawa alleged that agents linked to the Indian government were involved in violence against Canadian citizens, including the killing of a Sikh activist. The agreement also follows recent policy shifts in New Delhi aimed at revitalising its nuclear sector. Barely two months ago, India dismantled its state monopoly over atomic power generation and eased contentious liability provisions to encourage private investment. These reforms form part of a wider strategy to increase nuclear power capacity to 100 gigawatts by 2047, an 11-fold expansion from current levels. With domestic uranium output insufficient to meet projected demand, long-term import arrangements are going to play a critical role.
Nuclear engagement between Canada and India dates back to the 1950s, though cooperation was interrupted for decades after India’s first nuclear test in 1974 led to international isolation. Access to global reactor fuel and technology resumed following a 2008 agreement with the US. A bilateral nuclear cooperation agreement signed in 2010 subsequently enabled a uranium supply deal between India and Cameco in 2015, which has since expired. The new Canada-India uranium deal effectively renews that supply channel while also bolstering India-Canada bilateral relations.
