India Eyes Canada’s Mineral Wealth to Power Its Electric Ambitions

India and Canada have formally revived their Ministerial Energy Dialogue, signalling a renewed push to cooperate on critical minerals such as lithium, cobalt and nickel—materials vital for electric vehicle batteries and the broader energy transition. The dialogue was formalised by India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri and Canada’s Minister of Energy and Natural Resources Timothy Hodgson on the sidelines of the fourth edition of India Energy Week in Goa.

The move follows discussions between the Prime Ministers of the two countries at the 2025 G7 Summit and reflects a growing strategic partnership aimed at strengthening and stabilising global energy supply chains. If successful, the cooperation could help ease critical mineral supply constraints for the automotive industry, particularly electric vehicles.

While Canada has traditionally been a supplier of conventional fuels, the bilateral engagement is now shifting toward future-facing resources. Lithium, cobalt and nickel—classified as critical minerals, are essential for high-capacity batteries used in EVs and renewable energy storage systems. The diplomatic push comes at a time when India, the world’s third-largest oil consumer, faces an annual energy import bill of about $150 billion.

Minister Puri said the “cooperation potentiality is immense,” noting that Indian state-backed energy firms are increasingly looking to diversify beyond oil and gas. Oil India, the country’s second-largest state-owned explorer, has been designated as the lead entity for evaluating critical mineral opportunities in Canada.

“There is a lot of discussion already going on between Oil India and the Canadian side,” Puri told reporters, adding that the company is seeking to expand its role beyond traditional hydrocarbons.

Oil India Chairman and Managing Director Ranjit Rath said the initial plan involves sending a high-level delegation to Canada to study the country’s licensing framework, legal mining regimes and potential investment assets. According to Rath, the two sides are exploring a model under which Indian companies could invest directly in Canadian mining projects to secure long-term supplies of raw materials for Indian manufacturing.

“So we will take it forward and try to conclude as soon as possible,” he said.