India and Canada Set to Forge New Economic Path with Free Trade Pact

India and Canada are poised to finalize a free trade agreement within the year, aiming to strengthen economic ties that have previously been mired in diplomatic tensions. During Prime Minister Mark Carney's visit to New Delhi, both nations expressed their goal to bolster bilateral trade to an impressive $50 billion by 2030.

The agreement includes a C$2.6 billion ($1.9 billion) uranium deal and joint efforts to build advanced and small modular nuclear reactors. This collaboration signifies a commitment to clean nuclear energy, facilitating India's ambitions for sustainable development and reliable power sources.

Marking a renewed chapter in relations, Carney's visit also seeks to reset ties strained since 2023, after allegations by former Canadian Prime Minister Justin Trudeau regarding Indian involvement in a Canadian Sikh separatist's death. The countries now aim to expand trade, moving away from dependence on the US, and focusing on clean energy and agricultural chains.