By Anjali Sharma
WASHINGTON – India and Canada on Friday have recognized the areas that require separate domain-level engagement between relevant stakeholders on both sides.
Canada’s Minister of Export Promotion, International Trade and Economic Development, at the invitation of Commerce and Industry Minister Piyush Goyal, Maninder Sidhu, made an official visit to India from November 11 to 14.
Both sides agreed to encourage long-term supply chain partnerships in critical minerals and clean energy collaboration essential for energy transition, and new-age industrial expansion.
They also agreed to identify and expand investment and trading opportunities in aerospace and dual-use capabilities partnerships, leveraging Canada’s established presence in India and the growth of India’s aviation sector.
The Ministers noted strong complementarities between India and Canada across strategic sectors driving sustainable growth and innovation and offering new opportunities for trade.
They recognized the importance of supply chain resilience, both the ministers exchanged views on global developments and reflected on lessons from recent disruptions.
“They underscored the relevance of strengthening resilience in critical sectors, including agriculture, and highlighted the need for diversified and reliable supply chains as essential for supporting long-term economic stability,” read a statement released by India’s Commerce Ministry.
Both the sides expressed satisfaction with the progress made in strengthening bilateral economic engagement and reaffirmed their shared commitment to elevate the economic partnership to reflect global developments and evolving supply chain and trade dynamics.
They emphasized the importance of maintaining momentum in the bilateral dialogue and supporting people-to-people ties, which provide a strong foundation for the partnership.
India and Canada noted robust growth in bilateral trade in goods and services reaching USD 23.66 billion in 2024, with merchandise trade valued at nearly USD 8.98 billion, a substantial 10% increase over the previous year.
Both sides also reaffirmed the strength and resilience of the India–Canada economic partnership and emphasized the importance of continued engagement with the private sector to unlock new opportunities for trade and investment.
Canadian institutional investment in India and the growing presence of Indian firms in Canada, together supporting thousands of jobs in both economies was also discussed at the meet.
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