Transcript - Prime Minister Carney secures ambitious new partnership with India
Prime Minister Carney secures ambitious new partnership with India
Thank you. Thank you very much. I will make my remarks in English and in French. And may I begin by thanking you, Prime Minister Modi, for the generous hospitality that you have extended us here in New Delhi. You've extended to my ministers as they've visited and the spirit of partnership with which you've approached our relationship since we first spoke in my capacity as Prime Minister last June and as you mentioned a few weeks later, you made time to come to the G7 summit in Alberta, Canada. Five months after that, we met in Johannesburg at the G20 and now today, the first bilateral visit of a Canadian Prime Minister here in eight years. In the intervening months, our foreign ministers have been busy. They've met five times. Four of my ministers have led delegations here to India. Provincial premiers have been here, including today. There has been more engagement between the Canadian and Indian governments in the last year than there has been in more than two decades combined. So, this is not merely the renewal of a relationship, it is the expansion of a valued partnership with new ambition, focus and foresight, a partnership between two confident countries, charting our own course for the future.
In the last decade. Let's just reflect on what's happened in the last decade. Under your leadership, Prime Minister, India has become the fastest growing economy in the world. Per capita incomes in this country have risen at a pace never seen in history, seldom in human history. The most ambitious projects in clean energy, in the digital economy and biofuels, and the next generation of artificial intelligence talent are all here in India. Prime Minister, Canada shares such ambition and your sense of purpose.
Like India, Canada sees a world experiencing profound transformation. Like India, we know that the certainties that structured trade, security, finance, and diplomacy for more than a generation have been upended. And like India, we recognise that the multilateral system – which our two countries have long relied on – is ill-suited to meet the challenges we’re facing today.
We both know that nostalgia is not a strategy and that those who succeed in this new era will be those with the confidence, the ambition, and most importantly, the partnerships to build a more inclusive, sustainable and prosperous future for all our citizens.
And I believe the prescription for success in this new era is well exemplified by the theme of your G20 presidency in 2023, which I had the honour of attending. That theme, of course, “One Earth, One Family, One Future”, because the challenges of our age cannot be solved by one country alone and only by building on the principles of “One Earth, One Family, One Future” can we forge the partnership worthy of our countries.
Recognising that we share just One Earth, we are strengthening our collaboration on climate and the environment. Canada plans to double its electrical grid by 2050 and to considerably increase the deployment of renewable energy and energy storage. For its part, India stands as a world leader in large‑scale solar energy, in energy storage technologies, and in other forms of renewable energy. That is why Canada and India will hold a summit on renewable energy this year, bringing together industry, investors, and public decision‑makers, with a view to broadening and diversifying trade in clean technologies. And from this point forward, we are building an energy partnership for a more sustainable future.
India is a country whose demand growth for energy is projected to double by 2040 and to meet that demand sustainably, India plans to increase its renewable capacity by 500 gigawatts by the end of this decade and to almost double the share of LNG in its primary energy mix over the same period. Canada is well positioned to contribute as a reliable supplier of the world's lowest carbon, responsibly produced LNG from our West coast. As India seeks access to critical minerals for its manufacturing, its clean tech and its nuclear plans, Canada's resource base and world leading companies position it as a strategic partner. As one example, the nuclear agreement, the uranium agreement signed today, as another the fact that 40%, four zero percent of the world's mining companies are listed in Canada. Today we are launching a strategic energy partnership with significant potential to expand bilateral energy trade.
We've signed, as you've seen, a new critical minerals partnership spanning development, processing and secure supply chains for clean energy, electric vehicles and advanced manufacturing. We're deepening our cooperation in clean energy, expanding collaboration across wind, solar and hydrogen because Canada has big plans as well. We plan to double our grid by the end, by 2050, and India can be a major partner in this expansion. As you've seen, the Government of India and Cameco have signed a major $2.6 billion uranium supply agreement supporting India's nuclear ambitions and our shared commitment to clean, reliable baseload power. All of these agreements under One Planet are beginning of a new, prosperous relationship that will offer generational opportunities for workers and businesses in both our countries and which will protect the planet for future generations.
Secondly, we are One Family. The greatest, most enduring strengths between Canada and India are the families who call our nations home. Nearly 2 million Canadians trace their roots to India, including leaders in business, science, culture and government. Tens of thousands of people travel between our countries every year to visit friends and family. 400,000, 400,000 talented Indians study in Canada. That is twice the number in the United States. It is four times the number in the United Kingdom. These students, these connections deepen our ties, and so we're collaborating to build on those strengths. We've launched the new Canada-India Talent and Innovation Strategy with 13 new partnerships to deepen our ties in education. And this includes collaborations involving McGill, the University of Toronto, University of British Columbia, to work across artificial intelligence, health sciences and digital architecture.
Our partnership will propel hundreds of Canadian and Indian researchers through cutting-edge joint research projects. We are launching new Indo-Pacific scholarships and fellowship programs to increase academic mobility and to train the next generation of talent.
Over the longer horizon, the Prime Minister mentioned a moment ago the $100 billion of investments already in India by our pension funds. Those pension funds have $2 trillion in capital, there are already some of the largest foreign investors here potential for significant growth, particularly given the scale of the infrastructure build in this country. And thirdly, we share One Future. That's why we're forging deeper ties in frontier technologies from AI to space. At the G20, India and Canada signed a landmark trilateral partnership with AI on, sorry with Australia on AI and critical minerals. And we've already identified key sectors such as digital infrastructure, semiconductors, electronics manufacturing and high-performance computing. The agreements, today, we're going to expand our collaboration between the Canadian Space Agency and the Indian Space Research Organization on Earth Observation, on climate monitoring, on generating the data that powers agriculture, disaster response, climate resilience across the Indo-Pacific. And our partnerships will be reinforced by the strong foundations we are building in trade and defence.
We're advancing towards a Canada-India Comprehensive Economic Partnership agreement with the aim to conclude by the end of this year. This ambitious agreement will reduce barriers, increase, increase certainty, unlock opportunity for exporters, investors and workers in both our countries, with the aim to double trade by the end of this decade. And we're renewing defence and security cooperation through a new defence partnership, through maritime collaboration in the Indo-Pacific, through professional military exchange and practical coordination, and cooperation on our shared security interests.
One of the things that has always struck me in in Prime Minister Modi's stewardship of this country has while India becomes a great power, the focus has remained on all households, ensuring that all households benefit from the progress. Give an example the Ujjwala scheme, which provides liquefied petroleum gas for tens of millions, actually hundreds of millions of rural and low-income households. Cleaner cooking fuels, reducing pollution, saving lives and reducing costs are another example. And I speak under the control of the former governor, Governor Das, former Governor Das, I should say. It's always tough to give up being a governor, isn't it, Governor? But the revolution in digital payments, to provide income support, crop insurance payments directly to individuals, but the spillover benefits are enormous, and part of our agreements is to explore an ability to cooperate further so that Canada benefits from this innovation.
The bigger point is that our partnerships, from energy to AI share this spirit so that Canada and India can harness technologies, deliver equally transformative benefits to hundreds of millions of people. Now, to close, we're charting a future of ‘One Earth, One Family, One Planet’, to One Future. And I was reminded as I was coming here, as Swami Vivekananda, of course, one of the greatest philosophers. And more than a century ago, I hadn't realized this until I read it. But he, in his travels, spent time in both Vancouver and Winnipeg, and in his travels and his texts, he personified this maxim “Arise, awake and stop not till the goal is reached”. With this partnership, we will advance. We will not stop until the goals of Viksit Bharat 2047 and Canada Strong are reached. It moves us forward. It builds our prosperity. It builds for all and it builds for a better world. Thank you very much.