India and Canada commit to boost energy trade and critical mineral supply

Key facts

• Canada will export more crude oil, Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG) to India.
• India will ship higher volumes of refined oil to Canada.
• Canadian Energy Minister Tim Hodgson and India’s Petroleum and Natural Gas Minister Hardeep Singh Puri discussed higher investment in biofuels, batteries, electricity systems and critical minerals including Uranium.
• Total India-Canada trade reached $9.7 billion in 2024.
• India accounted for 1 per cent of Canada’s critical mineral exports in 2024.
• Under the proposed Comprehensive Economic Partnership Agreement (CEPA), India is likely to sign a 10-year agreement worth 2.8 billion Canadian dollars for Canadian uranium supply.
• Canadian Prime Minister Mark Carney is expected to visit India in the first week of March to advance CEPA negotiations.