Uranium Alliance: India and Canada Forge Landmark 10-Year Agreement for Clean Energy

Updated: November 26, 2025 13:14

Image Source : Free Press Journal

India and Canada are nearing a landmark $2.8 billion agreement for a decade-long uranium supply, with Canada's Cameco Corp set to fuel India's expanding nuclear fleet. The pact, finalizing after renewed leadership talks, promises major gains for clean energy and Indo-Canadian strategic ties.

India is poised to sign a 10-year uranium supply agreement with Canada, marking a transformative chapter in energy and bilateral relations. Valued at $2.8 billion, the deal will see Canadian mining giant Cameco Corp deliver uranium oxide to power India’s growing number of nuclear reactors. The pact follows high-level meetings between Prime Ministers Narendra Modi and Mark Carney, where broader nuclear cooperation and new trade ambitions were discussed.

This agreement comes as India aims to scale up its nuclear power infrastructure, currently operating 24 reactors and building several more. The uranium deal will ensure stable fuel supply for India’s diverse nuclear energy program, supporting clean electricity production and the country’s decarbonization goals. It also signals a notable thaw in Canada-India collaboration after recent diplomatic tensions and complements plans for a Comprehensive Economic Partnership Agreement to double trade by 2030.

Industry analysts consider this supply volume “very material”—3.3 million pounds annually, amounting to about 10% of Cameco’s yearly sales. If concluded, the arrangement strengthens India’s energy security, boosts Canadian uranium exports, and forges deeper strategic ties in the nuclear sector.

Key highlights:

India-Canada agreement: $2.8 billion, 10-year uranium supply from Cameco Corp
Powers India's fleet of 24 nuclear reactors, with more under construction
Follows G20 leadership talks and revived trade negotiations
Deal to help India advance decarbonization and electricity production targets
Cameco's uranium exports to India to cover ~10% of its global annual sales
Supports both nations’ push for deeper nuclear, economic, and strategic collaboration
Part of new ambitions to double bilateral trade to $50 billion by 2030

Sources: Reuters, IBEF, Economic Times, Free Press Journal, Business Standard, Canadian Mining Journal

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