India and Canada on Tuesday formally renewed the Ministerial Vitality Dialogue through the India Vitality Week (IEW) 2026 in Goa. Union Minister for Petroleum and Pure Fuel Hardeep Singh Puri and Canadian Minister of Vitality and Pure Sources Timothy Hodgson introduced a street map for long-term commerce in crude oil, LNG, and significant minerals important for the vitality transition.
The high-level assembly is the primary such ministerial engagement in eight years and follows the June 2025 assembly between the Prime Ministers of each nations on the sidelines of the G7 Summit in Kananaskis.
Puri acknowledged that Canada stays a strategic companion for India’s vitality safety, citing the North American nation’s huge useful resource base. “Canada might doubtlessly have reserves of over 100 years of crude oil,” Puri famous, including that this was his third interplay with Minister Hodgson to discover provide chains and the bilateral framework.
In keeping with the joint assertion, the commerce between the 2 nations will give attention to:
- Vitality Exports: Elevated provide of Canadian crude oil, Liquefied Pure Fuel (LNG), and Liquefied Petroleum Fuel (LPG) to India.
- Infrastructure: Utilization of the Trans Mountain Growth (TMX) Pipeline to spice up crude exports to Asian markets.
- Refining: Provide of refined petroleum merchandise from India to Canada to leverage India’s excessive refining capability.
- Strategic Hunt for Crucial Minerals
A major improvement of the dialogue is the pivot towards securing uncooked supplies for electrical automobiles (EVs) and renewable infrastructure. State-owned Oil India Ltd (OIL) has been tasked with main a consortia to safe and discover vital mineral property in Canada.
“Oil India may very well be taking a look at exploring some mines for Lithium, Cobalt, and uncommon earth parts,” Minister Puri mentioned through the press briefing.
Ranjit Rath, CMD of Oil India mentioned, “Oil India will take a look at exploring numerous vital minerals and uncommon earth parts, we will likely be taking a look at securing vital minerals like lithium, cobalt and uncommon earth parts which are important for manufacturing electrical automobiles.”
The 2 nations will likely be taking a look at reciprocal investments, with India highlighting a US$ 500 billion alternative throughout its vitality worth chain. Canada, in flip, famous its $116 billion in vitality initiatives presently underneath improvement.
The dialogue additionally outlined cooperation in Inexperienced Hydrogen, biofuels, and carbon seize applied sciences. The ministers emphasised that diversifying provide chains for vital minerals is a precedence to mitigate dangers related to concentrated world provides.
The subsequent spherical of senior-level engagements is anticipated to happen in March 2026 throughout a scheduled Canadian commerce mission to New Delhi.
