Canada, India sign $5.5B in commercial agreements during leaders’ meeting

Canada and India have signed more than 10 commercial agreements worth $5.5 billion during meetings between Prime Minister Mark Carney and Indian Prime Minister Narendra Modi, according to the Prime Minister’s Office.

In a statement summarizing the bilateral talks, the Prime Minister’s Office said the agreements cover defence, artificial intelligence, critical minerals, energy and cultural cooperation. The largest deal announced is a $2.6 billion uranium agreement, described by officials as a major component of the overall package.

During a joint press conference, Carney referenced Indian spiritual leader Swami Vivekananda, noting his historic visits to Vancouver and Winnipeg. Carney quoted Vivekananda’s call to “arise, awake and stop not till the goal is reached,” adding that Canada and India would continue working toward their respective national development goals.

The two leaders also agreed to advance bilateral cooperation in security and law enforcement, including efforts to combat gang activity and fentanyl trafficking, according to the federal summary. No further operational details were released.

Carney extended an invitation to Modi to visit Canada. Following the bilateral meetings, the Canadian prime minister departed for Australia as part of his international trip.

Context: Canada has been seeking to expand trade and supply chain partnerships in critical minerals and energy as part of its economic diversification strategy. Further details on implementation timelines and regulatory approvals were not provided in the Prime Minister’s Office summary.