Prime Minister Narendra Modi on Monday held wide-ranging talks with Canadian Prime Minister Mark Carney at Hyderabad House in New Delhi. The meeting set an ambitious target of boosting bilateral trade to $50 billion by 2030 and accelerating cooperation across strategic sectors.
The meeting marked a renewed push to deepen the India-Canada Strategic Partnership, with both leaders signalling a reset driven by economic ambition, clean energy collaboration, and stronger security coordination.
Addressing a joint press statement, Modi said the two countries aim to ‘transform this vision into a next-level partnership’ by unlocking the full potential of economic ties.
“Our goal is to reach $50 billion in trade by 2030. We have decided to finalise a comprehensive economic partnership agreement soon,” he said.
The two sides also finalised the terms of reference for the proposed trade pact, moving closer to sealing the agreement. Modi underlined that Canadian pension funds have already invested $100 billion in India, calling it a ‘symbol of deep faith in India’s growth story’.
A key outcome of the talks was a long-term agreement for the supply of uranium from Canada to India for civil nuclear energy. The two countries will also collaborate on small modular reactors and advanced nuclear reactor technology.
In clean energy, Modi announced that Canada will join the International Solar Alliance and the Global Biofuel Alliance. An India-Canada Renewable Energy and Storage Summit will be held later this year to scale up cooperation in green power and energy storage.
Carney described the emerging energy partnership as strategic, noting Canada’s plan to double its electricity grid by 2050 and expand cooperation in wind, solar, and hydrogen.
The leaders agreed to strengthen defence manufacturing cooperation and enhance maritime security coordination. Modi said both countries view terrorism, extremism, and radicalisation as serious global threats and emphasised closer collaboration to safeguard peace and stability.
Carney said engagement between the two governments over the past year has surpassed that of the previous two decades combined, calling it ‘the expansion of a valued partnership with new ambition and foresight’.
In a boost to educational cooperation, Canada will allow its universities to open campuses in India. The two sides announced new partnerships in artificial intelligence, healthcare, agriculture, and innovation, alongside an MoU to promote cultural exchanges.
Both leaders stressed that shared democratic values and strong people-to-people links will anchor the next phase of India-Canada relations.