Canada identifies India as a key partner in its strategy to diversify trade
The engagement between the two countries will be furthered as groups operating in the India-Canada trade corridor undertaking missions in the coming days
Toronto: Canada has identified India as a “key partner” as it attempts to diversify trade to other regions on the world and reduce dependence on the United States.
In a statement related to Minister of International Trade Maninder Sidhu’s recent bilateral visit, Global Affairs Canada (GAC), the country’s foreign ministry, said, “India is a key partner as Canada strengthens its economic links to the Indo-Pacific under a comprehensive strategy for the region.”
“This visit reinforced Canada’s commitment to diversify and strengthen trade, investment, connectivity and innovation partnerships with India. By engaging with government and business, we are advancing collaboration in priority sectors and supporting initiatives that create long-term economic opportunities for both countries,” Sidhu said.
The release described the three-day visit as “successful”, adding it reinforced “Canada’s commitment to deepening economic ties diversifying trade, and advancing a relationship grounded in mutual respect”.
Canada and India renewed the Ministerial Dialogue on Trade and Investment, with Sidhu and Commerce and Industry Minister Piyush Goyal its co-chairs. Sidhu also met Minister of Petroleum and Natural Gas Hardeep Singh Puri and “highlighted Canada’s role as a reliable partner in liquefied natural gas, carbon capture and critical minerals, which are key to supporting India’s energy transition and industrial growth”.
The engagement between the two countries will be furthered as groups operating in the India-Canada trade corridor undertaking missions. The Canadian Hindu Chamber of Commerce (CHCC) announced on Monday that a delegation will visit India from January 2 to 12, and cover the states of Uttar Pradesh, Himachal Pradesh, Assam, while also travelling to Chandigarh and New Delhi. The chamber’s president Kushagr Sharma pointed out that it was the first Canadian organisation to launch a trade mission after the recent announcement to re-engage the Canada-India commercial dialogue.
“India continues to be one of the world’s fastest-growing economies, and Canadian businesses cannot afford to miss the opportunity,” he said, adding, “This mission provides a direct bridge between Canadian entrepreneurs and India’s most promising sectors.”
At the announcement, India’s Acting Consul General in Toronto Kapidhwaja Pratap Singh described it as “timely” given the current “momentum” in the relationship and stressed it will have a “lot of symbolic and substantial value”.
The chamber has also instituted an India-Canada Trade Committee, chaired by veteran Winnipeg-based businessman Hemant Shah, to strengthen its outreach and support efforts through the year.
CHCC participates in the Federal government’s budget consultations process and its contributions were recognised by Ontario’s provincial parliament on Monday, its founder Naresh Chavda said.
Other trade missions are also likely early next year, including one shepherded by the Business Council of Canada.
