• Source:JND

India has signed a major uranium supply deal with Canada to support its growing nuclear energy needs. The agreement was inked on Monday during Canadian Prime Minister Mark Carney's visit to New Delhi. As part of this 2.6 billion Canadian dollar deal, Canadian company Cameco will supply 22 million pounds (around 10,000 tonnes) of uranium to India between 2027 and 2035. This deal is significant as India aims to expand its nuclear power capacity and secure long-term energy supplies amid volatile geopolitics.

Terming it a major step towards the expansion of Nuclear Energy in India, the government, in a statement, said that the contract will "contribute towards India's vision for its nuclear power program, under the Viksit Bharat initiative, to achieve 100 GW of nuclear power by 2047."

Why does the deal matter for India?

India has sizeable uranium deposits, but most of its domestic uranium is low-grade. This makes it expensive to use. As a result, India heavily relies on imports for more than 70% of its nuclear fuel. The recently concluded deal with Canada is expected to ensure a stable supply of high-quality uranium for India’s nuclear reactors.

It will also reduce the risk of fuel shortages. Also, the contract is India's second major uranium deal in a short time. India had earlier signed a similar deal with Kazakhstan on February 24. Most of the uranium in India is sourced from Uzbekistan and Russia.

ALSO READ: US Hatching New Plot To Overthrow Iran's Islamic Regime? Trump In Talks With Kurds, Mulls Supplying Weapons

How will this deal help in India's nuclear growth plans?

India plans to expand its nuclear energy capacity to 100 GW by 2047. The current capacity is 9 GW. With increased domestic production, local uranium is likely to meet about 30% of future demand. This makes imports necessary. Each year, India uses approximately 1,500-2,000 tonnes of uranium. This is expected rise to 5,400 tonnes annually as nuclear power grows. Jharkhand and Andhra Pradesh mines supply most of India's domestic uranium.

India's three-stage nuclear programme goal

The long-term goal of India is to develop a three-stage nuclear program. This program will eventually use thorium, and India already has abundant reserves of it. The first stage is currently operational with nuclear reactors that use uranium. For the second stage, a prototype fast-breeder reactor is nearing completion in Kalpakkam, Tamil Nadu. The third stage, using thorium as the main fuel, is still in the planning and development phase.

ALSO READ: Who Is Mojtaba Khamenei? Top Contender For Post Of Supreme Leader Of Iran; Family Ties, Net Worth


Also In News