India and Canada will resume trade talks next year, aiming to strengthen economic ties and enhance private sector cooperation
NEW DELHI
India and Canada have agreed to restart active trade and investment talks early next year, aiming to strengthen their economic partnership and create new avenues for cooperation. The decision was reached during the Ministerial Dialogue on Trade and Investment held between India’s Commerce and Industry Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development, Maninder Sidhu. Sidhu concluded his four-day visit to India on Friday, with both sides stressing the importance of closer engagement with the private sector to boost mutual growth.
The ministers reaffirmed the long-standing economic ties between the two nations, noting that bilateral trade in goods and services reached $23.66 billion in 2024. Merchandise trade alone touched $8.98 billion, marking a 10 per cent rise from the previous year. Both leaders agreed that this momentum must continue through steady ministerial interactions and improved collaboration.
A key focus of their discussion was the development of dependable supply chains, especially in critical minerals and clean energy. These areas are seen as essential for supporting the ongoing global energy transition. The leaders also agreed to explore expanded cooperation in aerospace and dual-use technologies, taking advantage of the rapid growth of India’s aviation sector and Canada’s expertise in the field.
The ministers acknowledged the growing two-way investment flows, including significant Canadian institutional investment in India and the rising presence of Indian companies in Canada. These investments support tens of thousands of jobs and demonstrate the strength of the partnership.
The meeting followed guidance from earlier discussions between India’s External Affairs Minister S. Jaishankar and Canadian Foreign Minister Anita Anand, who met during the G7 gathering in Canada. Their talks highlighted the need for closer cooperation in trade, energy, security, and other key sectors.