NewKerala.com

India-Canada Trade Talks: How $30 Billion Partnership Seeks New Growth

India and Canada are actively working to strengthen their economic partnership through high-level ministerial talks. Commerce Minister Piyush Goyal and Canada's Trade Minister Maninder Sidhu co-chaired the 7th Ministerial Dialogue on Trade and Investment. They explored new opportunities in emerging sectors like artificial intelligence and clean technology. The discussions build on already strong commercial ties that saw bilateral trade exceed $30 billion last year.

Key Points: Piyush Goyal Maninder Sidhu Discuss India Canada Trade Growth

  • Ministers discussed strengthening bilateral trade and promoting new investment opportunities
  • Focus on expanding partnerships in AI, clean technology and digital industries
  • Bilateral trade surpassed $30 billion in 2024, showing strong growth potential
  • Both countries aim to diversify trade relationships under New Roadmap 2025
2 min read

India, Canada discuss ways to boost bilateral trade, promote investments

Commerce ministers discuss boosting $30.9 billion bilateral trade, exploring AI and clean tech partnerships under New Roadmap 2025 initiative.

"As one of the fastest-growing major economies, India offers significant opportunities for Canadian businesses and workers. - Official Statement"

New Delhi, Nov 13

Commerce and Industry Minister Piyush Goyal and Maninder Sidhu, Canada’s Minister of International Trade, discussed ways to further boost bilateral trade and promote investments, it was announced on Thursday.

Sidhu is in India to find opportunities to advance trade and investment linkages between the two nations.

“It was a pleasure to co-chair the 7th India-Canada Ministerial Dialogue on Trade and Investment as part of the New Roadmap 2025 along with @MSidhuLiberal, Canada's Minister of International Trade,” Goyal posted on the X social media platform.

The minister further stated that they discussed “avenues to strengthen bilateral trade, promote investments and deepen cooperation between our countries”.

During his India visit, Sidhu is set to promote Canada's commitment to supporting and growing the well-established commercial ties shared by Canada and India, including artificial intelligence, clean technology and digital industries, and explore new opportunities for partnerships that benefit workers and businesses in both countries.

"This visit to India will reinforce Canada's commitment to diversifying our trade relationships and attracting new investment," an official statement quoting Sidhu said. "As one of the fastest-growing major economies, India offers significant opportunities for Canadian businesses and workers. Our commercial ties continue to expand -- bilateral trade surpassed $30 billion in 2024 -- and there is even greater potential ahead,” the statement added.

India is a key partner as Canada strengthens its economic links in the Indo-Pacific region under a comprehensive strategy for the region. In 2024, India was Canada's seventh-largest goods and services trading partner, with two-way trade valued at $30.9 billion.

Meanwhile, External Affairs Minister (EAM) S. Jaishankar and his Canadian counterpart, Anita Anand, held discussions on strengthening cooperation across key sectors, including trade, energy and security. Both leaders met on the sidelines of the G7 Foreign Ministers' Meeting in Niagara.

EAM Jaishankar also praised the progress made under the New Roadmap 2025, aimed at enhancing bilateral ties between India and Canada and expressed hope for rebuilding a stronger partnership.

- IANS

Share this article:

Reader Comments

R
Rohit P
Hope this leads to more job opportunities for Indian professionals in Canada. The IT sector especially could see great collaboration. Let's make this partnership work for both nations!
D
David E
As someone who works in renewable energy sector, I'm excited about the clean technology collaboration mentioned. This could be a game-changer for sustainable development in both countries.
A
Ananya R
While I appreciate the economic cooperation, I hope our government ensures that Indian interests are protected and we get fair deals. Sometimes we compromise too much in international agreements.
S
Sarah B
The New Roadmap 2025 seems promising! With India's growing economy and Canada's technological expertise, this partnership can create win-win situations for businesses and workers in both nations.
V
Vikram M
Great to see bilateral relations improving! The Indian diaspora in Canada can play a crucial role in strengthening these economic ties. Jai Hind! 🙏

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50