India Canada Ink Landmark Uranium Deal

India Canada Ink Landmark Uranium Deal

India Canada Ink Landmark Uranium Deal

India Canada Ink Landmark Uranium Deal a on April 15, 2015 signed a nuclear agreement on supply of uranium to India. The agreement was signed between Prime Minister Mr. Narendra Modi and Canadian Prime Minister Mr. Stephen Harper during Mr. Modi’s visit to the country from April 15 to 17, 2015. Mr. Modi’s visit to Canada was the first bilateral visit by an Indian Prime Minister in 42 years.

Canada agreed to supply 3,000 metric tonnes of uranium to energy-hungry India from this year under a $254 million five- year deal to power Indian atomic reactors, four decades after bilateral cooperation in this sector was frozen over India’s nuclear programme. The agreement for uranium supply, which came two years after protracted negotiations following the 2013 civil nuclear deal between India and Canada, was signed after comprehensive talks between Prime Minister Mr. Modi and his Canadian counterpart Mr. Stephen Harper.

Canadian Cameco Corporation will supply 3,000 metric tonnes of uranium concentrate to India till 2020 and the supply will start from 2015 itself. The uranium will be sourced from Cameco’s operation’s in northern Saskatchewan. Cameco Corporation, the world’s largest uranium producer, will make first deliveries in late 2015 and the pricing will be based on the market price for uranium, which is published price at the time of delivery. Canada is the third country to supply uranium to India after Russia and Kazakhstan. The supplies will be under the International Atomic Energy Agency (IAEA) safeguards.

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The uranium agreement signifies a new era of bilateral co-operation between India and Canada which turned frosty after India first conducted the test of nuclear bomb in 1970s leading to Canada banning exports of uranium and nuclear hardware to India as it was alleged that New Delhi used Canadian technology to develop a nuclear bomb. Further, it reflects a new level of mutual trust and confidence between the two countries.

Announcing visa on arrival for Canadians, Mr. Modi said that his government wanted to promote people- to-people contacts between the two countries. Canadians could apply online and would be eligible for visas for 10 years. Mr. Modi said that Canada had the potential to be.India’s key partner in many sectors, including energy, manufacturing, skills development, research, education, and his smart city project. Apart from this, a number of agreements were signed following talks between the two leaders. These are in the areas of civil aviation and space, skill development and higher education. Both sides also agreed on the need to enhance their defence and security cooperation.

Overview

★           India and Canada signed a nuclear agreement on supply of uranium to India.

★           Canada agreed to supply 3,000 metric tonnes of uranium to India from this year under a $254 million five- year deal.

★           Agreements were also signed in areas of civil aviation and space, skill development and

higher education.

Sandeep

Hi Guys, I am Sandeep Co-founder of IASpaper and UPSCToday Staying in Mumbai (India) and pursuing graduation in Computer Science and Engineering from Mumbai University. I love helping Aspirants. You may join me on Facebook

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