Diversity, trust anchor Canada-India economic ties, says Piyush Goyal in Toronto
Toronto, May 26
Union Commerce and Industry Minister Piyush Goyal on Tuesday said "diversity defines the Canada-India partnership," telling business leaders in Toronto that deep trust between the two democracies is unlocking new trade and investment opportunities as both sides push for a Comprehensive Economic Partnership Agreement.
Addressing the Opening Ministerial Plenary Session in Toronto, Canada, ' From Political Reset to Commercial Delivery', Goyal said the strength of bilateral ties lies in shared democratic values and institutional trust. "I compliment each and every one of you assembled here today who have joined with your message to the world that the people of these two very consequential and important economies, that businesses from both our vibrant democracies trust each other, believe in each other, wish to engage with each other for a bright and prosperous future," he said.
"At the government-to-government level, of course, the relationships are better than ever before. At the people-to-people level, we'd like to see much more engagement, much more travel, much more groups of businesses, much more cultural and educational exchanges on both sides. And our effort at the government level is to make it easier to work with each other," Goyal added.
Welcoming Goyal, Canada's Minister of International Trade, Maninder Sidhu said India's presence marked a milestone. "We are proud, Mr Goyal. What a phenomenal job that you have done. I am talking about bringing one of the largest delegations from India to Canada in history," Sidhu said.
Pointing to global disruptions, Sidhu added, "The world is being reshaped, supply chains are shifting, all the functions are breaking down. Markets that used to feel stable are proving anything but. In the middle of all that, Canada made a deliberate choice that we are not going to sit around and wait...We are going to lead."
Goyal underscored that the Canada-India partnership rests on "strong roots in our two democracies, where we believe that when powerful institutions uphold the rule of law, where very clearly we show to the world how friends and partners work together, the trust that we have between the two governments, between our institutions, between our businesses and between the people of the two countries."
On the trade pact, Goyal said a Free Trade Agreement "will help with reducing barriers to trade, tariffs and all tariffs. It will open up a plethora of investment opportunities." He noted the larger signal, "But more significantly, will be the messaging that will go out with the Free Trade Agreement or the Comprehensive Economic Partnership that Minister Sidhu and I are attempting to bring to the table. Of course, we need the support of all of you."
"Confident that India and Canada will achieve a very good, fair, equitable, and balanced Comprehensive Economic Partnership Agreement, which will define the roadmap as the two economies power on," Goyal had posted on X earlier in the day before addressing the business leaders in Toronto.
"I have no doubt in my mind that we will achieve a very good, fair, equitable, and balanced agreement which will define the roadmap as the two economies power on," Goyal reiterated in Toronto, seeking support from businesses and lawmakers on both sides to conclude the deal.
— ANI
Reader Comments
Trust is the key word here. After the recent diplomatic tensions, it's encouraging that both governments are emphasizing institutional trust. But we need to see concrete results, not just speeches. Business communities on both sides are eager for action.
Loved Goyal ji's emphasis on people-to-people ties! As someone whose cousin moved to Toronto last year, I can vouch that cultural exchanges matter as much as trade deals. More student visas, more business travel - that's how real partnership grows. 👌
Fair enough, but let's not oversell it. Canada has been dragging its feet on trade talks for years. And Sidhu's comment about "the world is being reshaped" is typical Canadian positioning - they want to diversify away from China. We should negotiate hard for Indian farmers and manufacturers, not just sign any deal.
As an Indian student in Canada, this makes me happy! The more our countries cooperate, the easier it becomes for students and professionals. Plus, we have so much to offer - from IT to pharma to textiles. Let's make this deal happen! 🚀
Interesting how Goyal mentioned "shared democratic values" multiple times. It's clearly aimed at contrasting with China's model. But I hope this isn't just geopolitical posturing - the real test will be whether Indian businesses actually get better market access for services and dairy products.
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