NEW DELHI — Canada secured more than 30 commercial partnerships worth nearly C$300 million during a major trade mission to India, marking a significant step in strengthening economic ties between the two countries, Canadian International Trade Minister Maninder Sidhu said Friday.
The agreements span several industries, including aerospace, energy, clean technology and automobiles, and were finalized during the Team Canada Trade Mission, which brought hundreds of Canadian business representatives to India.
“It was very useful. If I have talked to all the delegates, you saw the partnerships being signed — over 30 commercial partnerships between Canadian and Indian entities, valued at close to $300 million, in different sectors — aerospace, energy, cleantech, autos, and so much more,” Sidhu said.
He said the mission demonstrated the importance of creating opportunities for businesses from both countries to establish commercial relationships.
“And so, this is what these trade missions are all about: opening doors and making sure that partnerships are formed,” he added.
The Canadian delegation included approximately 300 business representatives from 150 organizations, making it the country’s largest trade mission to India in three decades, according to Sidhu.
The delegation visited Mumbai and Bengaluru, meeting Indian business leaders and government officials to explore new investment and trade opportunities.
Sidhu said the visit built on the momentum generated by Indian Commerce and Industry Minister Piyush Goyal’s trip to Canada in May, which included India’s largest-ever business delegation to the country.
The Canadian minister said he had promised Goyal that he would return to India and was encouraged by the commercial agreements reached during the latest visit.
“From Mumbai to Bengaluru, we came to continue building on the incredible momentum our two countries have generated together over the last year,” Sidhu said while concluding the mission in Karnataka.
He said the growing cooperation reflected a shared interest in expanding trade, investment and economic security.
Sidhu also thanked the Indian government and business community for their participation and support during the visit.
The trade mission comes as India and Canada accelerate negotiations toward a Comprehensive Economic Partnership Agreement (CEPA), which both governments hope will strengthen bilateral trade and investment.
Indian High Commissioner to Canada Dinesh K. Patnaik said earlier this week that the two countries had completed the fourth round of negotiations and were making rapid progress toward finalizing the agreement.
Patnaik expressed confidence that negotiations could conclude by November, ahead of Indian Prime Minister Narendra Modi’s proposed visit to Canada in December.
The timeline follows a commitment by Modi and Canadian Prime Minister Mark Carney to complete the negotiations within a year of their launch.
The proposed trade agreement is intended to reduce tariffs and other trade barriers, address technical and regulatory challenges, encourage investment and facilitate the movement of people, goods and capital between the two countries.
The latest commercial partnerships and ongoing trade negotiations reflect efforts by Ottawa and New Delhi to deepen economic cooperation across several major industries. (Source: IANS)
