NEW DELHI: India is prepared to take trade relations with Canada to unprecedented heights, according to India’s High Commissioner to Canada, Dinesh Patnaik. Speaking to CBC News ahead of Canadian Prime Minister Mark Carney’s official visit to India, the High Commissioner emphasized that India is an eager market for everything Canada has to offer, particularly in the energy sector.
“Whatever Canada offers in the energy sector, there are buyers in India,” Patnaik stated, noting that the country is ready to purchase crude oil, LPG, and LNG. A centerpiece of the visit is expected to be a massive $3 billion uranium supply deal spanning 10 years. As India aims to scale its nuclear power capacity to 100 GW by 2047, Canadian uranium is seen as vital. India has also expressed a keen interest in acquiring equity stakes in Canadian uranium mines.
This diplomatic thaw is significantly driven by external pressures, specifically the trade tariffs and restrictions imposed by U.S. President Donald Trump on both nations. Currently, 93% of Canadian oil exports go to the U.S.; however, India is welcoming Canada’s strategic shift toward the Asian market. Accompanying Prime Minister Carney is Saskatchewan Premier Scott Moe, representing the world’s second-largest uranium-producing region. After years of diplomatic tension, both nations appear ready to prioritize economic interests, focusing on energy security, agriculture, and technology.
