India, Canada close to seal US$ 2.8 billion uranium deal: Report
- IBEF
- November 26, 2025
India and Canada are close to finalising a long-term uranium export agreement valued at about Rs. 24,982 crore (US$ 2.8 billion), following renewed momentum in bilateral trade ties. According to reports, the proposed contract could run for 10 years and would involve Canada’s Cameco Corp supplying uranium to support India’s civil nuclear energy programme. This forms part of a broader framework of civil nuclear cooperation, building on earlier arrangements under the Canada-India Nuclear Cooperation Agreement of 2013. India had previously imported uranium from Cameco under a five-year deal signed in 2015, valued at approximately Rs. 3,123 crore (US$ 350 million). While sources indicated that the terms may still be adjusted before a formal announcement, the latest agreement is expected to be a fresh arrangement rather than a renewal of the previous contract.
India currently operates around 25 nuclear reactors, with six more under construction, many based on Canadian Candu-derived pressurised heavy-water reactor designs. The renewed cooperation could also extend to future collaboration in small modular nuclear reactors. Alongside this, both nations have agreed to revive stalled trade negotiations towards a comprehensive economic partnership. Bilateral trade reached approximately Rs. 1,96,106 crore (US$ 21.98 billion) in 2024, reflecting steady commercial engagement. The proposed uranium deal signals a renewed focus on energy security and strategic economic cooperation between the two countries.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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