India and Canada Unveil New Era of Cooperation with Pacts on Critical Minerals and Uranium, Free Trade Deal in Sight

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{ "title": "India and Canada Unveil New Era of Cooperation with Pacts on Critical Minerals and Uranium, Free Trade Deal in Sight", "article": "Canadian Prime Minister Mark Carney's four-day visit to India has marked a significant shift in the two nations' bilateral ties, with agreements on critical minerals and uranium ore supply, and a renewed focus on a free trade deal. The two leaders, Narendra Modi and Mark Carney, have pledged to increase trade to $50 billion by 2030 and deepen defence and security cooperation. The agreements, signed on Monday, include a $2.6-billion deal for the supply of uranium ore concentrate and a memorandum of understanding on critical mineral cooperation. The two sides have also finalised the terms of reference for negotiations on a Comprehensive Economic Partnership Agreement (CEPA), which aims to reduce barriers and increase trade between the two nations. The rapprochement between India and Canada comes after ties deteriorated in 2023 following allegations made by former Canadian Prime Minister Justin Trudeau that Indian government agents were linked to the killing of a Khalistani separatist. The two nations have since worked to rebuild their relationship, with Modi and Carney meeting on the margins of the G7 Summit in Canada last June. Modi and Carney have emphasized the importance of bolstering trade and investments in a rapidly changing global scenario, with Modi noting that Canada's pension funds have invested $100 billion in India, reflecting their "deep belief" in the country's growth. Carney has also highlighted the potential for growth in areas such as infrastructure, with Canada's pension funds holding $2 trillion in capital. The two nations have also agreed to launch the India-Canada Defence Dialogue and to enhance defence industries, maritime domain awareness, and military exchanges. Carney has pitched Canada as a reliable source of gas and critical minerals, highlighting the country's resource base and world-leading companies. In addition to the agreements on critical minerals and uranium ore supply, the two nations have also concluded a trilateral MoU with Australia on cooperation in technology and innovation, and agreed to set up a joint pulse production centre of excellence. The new Canada-India Talent and Innovation Strategy, with 13 partnerships to deepen education ties, will include collaborations with top universities in areas such as AI, health sciences, and digital architecture. Modi has noted that people-to-people ties are the driving force of the relationship, with nearly two million Canadians of Indian origin contributing to business, science, culture, and government. The two nations have agreed to launch new partnerships between universities in AI, healthcare, agriculture, and innovation, and to explore the possibility of Canadian universities opening campuses in India. As the two nations look to the future, they are committed to working together to address the challenges of a rapidly changing world. With the agreements signed on Monday, India and Canada have taken a significant step towards strengthening their bilateral ties and unlocking the full potential of their economic cooperation."