Under an agreement signed on Wednesday after comprehensive talks Modi had with his Canadian counterpart Stephen Harper, Cameco Corporation will supply 3,000 metric tonnes of uranium over five years to India at an estimated cost of USD 254 million.
The supply will start from this year, highly placed sources said. 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.
"Canada has decided to provide uranium to India over a period of five years," Harper said at a joint press conference with Modi, the first Indian Prime Minister to visit Canada in 42 years.
Modi said, "The agreement on procurement of uranium from Canada for our civilian nuclear power plants launches a new era of bilateral cooperation" and a "new level of mutual trust" and confidence.

"The deal will enable India to power its growth using clean energy," he said.

Canada had banned exports of uranium and nuclear hardware to India in the 1970s.
However, the two countries turned the page in 2013 with the signing of the Canada-India Nuclear Cooperation Agreement, paving the way for the uranium deal.
Noting that Canada has the potential to be a key partner in India's national development priority, Modi said, "This is a growing relationship. Trade potential between our countries is enormous."
"Prime Minister Harper and I are committed to establish a new framework for economic partnership," the Prime Minister said, adding, "Ours is a natural partnership of shared values."

"Our relationship had drifted in the past. In recent years, Prime Minister Harper's vision and leadership changed the course of our relations. I am conscious of the significance of this visit in the history of our relations," Modi said.
The Prime Minister, who is on a three-day visit to Canada, held wide-ranging discussions with Harper on a host of issues covering threats posed by terrorism besides exploring the huge potential for cooperation in energy, infrastructure, manufacturing and skills, smart cities, agro industries, research and education.

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