India, Canada can work closely on critical minerals, energy transition: Tim Hodgson

Canada’s Minister of Energy and Natural Resources Tim Hodgson on Tuesday said there are several opportunities for India and Canada to deepen cooperation in the energy sector, particularly in critical minerals and supply diversification.

“It was a very good meeting, and we have lots of opportunities for India and Canada to work together,” Hodgson told ANI on the sidelines of the India Energy Week conference. Earlier, addressing the conference, Hodgson described Canada as a strong supplier of critical minerals and highlighted growing trade opportunities with India, especially at a time when global energy supply chains are undergoing major shifts.

Push for free trade, diversified energy ties

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Making a veiled reference to the United States imposing tariffs on several countries, Hodgson said the global community must send a clear message in favour of free trade and trusted partnerships rather than protectionism. “There is need to give a message that ‘we're going to live in a world where we believe in free trade and trusted relationships’ and not where ‘might makes right and where the strongest put tariffs on everyone else’,” he said.

“I don't need to tell India what it means when people use their economic integration with your country for coercion. I don't need to tell you what it means when hegemons use tariffs as leverage. We live in a changing world, and energy is at the centre of it,” Hodgson added.

Also Read: India Energy Week 2026: Hardeep Singh Puri pushes ‘energy addition’, balanced investment across renewables, oil, gas and nuclear

Canada eyes India amid supply diversification

Hodgson said Canada is actively working to diversify its energy exports, noting that the country earlier depended heavily on a single market. “We need to diversify our supply. Canada used to provide 98 per cent of its energy to one customer. We are committed to diversifying our supply,” he said.

Calling India the fastest-growing energy demand market globally, Hodgson said Canada sees strong potential for collaboration across fuels. “We see the opportunity to work with India as was said to the fastest growing demand for energy in the world will be in India, whether it's LNG, LPG, uranium, or oil,” he added.

He also stressed Canada’s role in supporting India’s energy transition. “Canada is a great supplier of those critical minerals and will be talking about that and a number of our companies are here at this conference to both help you develop your own critical minerals but where we have ones to share to help you with energy transition, we will be doing that,” Hodgson said.

PM Modi flags $500 billion investment opportunity

Meanwhile, Prime Minister Narendra Modi on Tuesday said India’s energy sector offers investment opportunities worth 500 billion dollars, urging global oil and gas majors to “Make in India, Innovate in India, Scale with India, Invest in India.”

Addressing the India Energy Week 2026 via video conferencing, with participants from nearly 125 countries gathered in Goa, PM Modi said the energy sector has vast opportunities across the entire value chain. He said India has significantly opened up its exploration sector and referred to the deep-sea exploration initiative Samudra Manthan Mission. By the end of the decade, India aims to raise investments in the oil and gas sector to 100 billion dollars and expand exploration to one million square kilometres.

More than 170 exploration blocks have already been awarded, and the Andaman and Nicobar basin “is emerging as the next hydrocarbon hope,” the prime minister said.

Highlighting reforms such as reducing no-go areas, PM Modi said feedback from earlier India Energy Week editions has been incorporated into legislative and regulatory changes. He assured investors that companies entering the exploration space will see higher profitability. PM Modi also said India currently ranks second globally in refining capacity and is on track to become number one. India’s refining capacity stands at about 260 million metric tonnes per annum and is being expanded beyond 300 MMT.

LNG infrastructure, pipelines, downstream opportunities

The prime minister noted that LNG demand in India is steadily rising, with a target to meet 15 per cent of total energy demand through LNG. He emphasised the need to develop the entire LNG value chain, including transportation.

India is building LNG vessels domestically under a shipbuilding programme worth Rs 70,000 crore, while investment opportunities are also opening up in LNG terminals and regasification projects at ports.

PM Modi stressed the need for a vast pipeline network and said city gas distribution networks are expanding rapidly, making the segment highly attractive for investors. With rising demand for petrochemicals, he said large-scale energy infrastructure investments would deliver strong growth, including in downstream activities. “Today's India is riding on the Reforms Express and undertaking rapid reforms across every sector,” PM Modi said, adding that India is creating a transparent, investor-friendly energy ecosystem that strengthens domestic hydrocarbons while supporting global collaboration.