On March 2, 2026, Prime Ministers Narendra Modi and Mark Carney held delegation-level talks at Hyderabad House, New Delhi, marking a significant diplomatic reset in India-Canada relations after years of strain. The two leaders formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA), with Union Commerce Minister Piyush Goyal and Canada's Minister of International Trade Maninder Sidhu exchanging the Terms of Reference (ToR). Both nations set a bilateral trade target of CAD 70 billion (approximately INR 4.65 lakh crore) by 2030, compared to current trade of about USD 6.48 billion (April–January FY 2025-26). Talks are targeted to conclude by end-2026.

The summit's most significant economic outcome was a long-term uranium supply agreement between Canada's Cameco Corporation and India's Department of Atomic Energy (DAE), under which Cameco will supply approximately 22 million pounds (around 10,000 tonnes) of uranium ore concentrate (U3O8) between 2027 and 2035 at market-related prices — valued at CAD 2.6 billion (USD 1.9 billion). Eight pacts were signed including MoUs on Critical Minerals, Clean Energy, Cultural Cooperation, and a joint AICTE-MITACS Globalink Research Internship programme for 300 Indian students annually.

The summit adopted 'Vasudhaiva Kutumbakam' as its guiding framework and announced a Pulse Protein Centre of Excellence at NIFTEM Kundli to strengthen India-Canada agri-cooperation. For Rajasthan, the uranium deal is historically significant as Canada had originally helped establish the Rajasthan Atomic Power Station (RAPS) at Rawatbhata in Chittorgarh in the 1960s, and the new supply will support India's expanding nuclear fleet including RAPS units.