NEW DELHI, India — India and Canada will continue their ministerial-level trade and investment engagements early next year, both nations confirmed on Friday, signaling an effort to maintain economic dialogue despite past tensions. The agreement came during the Ministerial Dialogue on Trade and Investment 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. Both ministers emphasized the importance of working closely with the private sector to unlock new opportunities and reaffirmed the strength and long-term continuity of the India–Canada economic partnership.
According to the joint statement, bilateral trade in goods and services reached $23.66 billion in 2024. Merchandise trade alone rose 10 percent year-over-year to $8.98 billion. The two sides also expressed support for developing long-term supply chain partnerships in critical minerals and for expanding clean energy cooperation to aid the global transition toward low-carbon technologies.
The ministers agreed to expand collaboration in aerospace and dual-use capabilities, noting that India’s rapidly growing aviation sector presents new investment avenues. They also stressed the importance of building resilient supply chains across critical sectors such as agriculture.
Both sides welcomed the steady rise in two-way investment flows, highlighting strong Canadian institutional investment in India and the growing footprint of Indian companies in Canada — economic ties that support tens of thousands of jobs across both countries.
The trade meeting followed guidance from Prime Minister Narendra Modi and Canadian Prime Minister Justin Trudeau during their recent bilateral discussions on the sidelines of the G7 summit in Kananaskis, Canada.
Separately, External Affairs Minister S. Jaishankar met with Canadian Foreign Minister Anita Anand on the sidelines of the G7 Foreign Ministers’ Meeting in Niagara, where they discussed cooperation in trade, energy, and security. (Source: IANS)
