India, Canada hold trade talks to boost investment, renew economic partnership

NEw new delhi: unification commercialism government government minister Piyush Goyal and Canada’s minister of export promotion, international trade and economic development, Maninder Sidhu, on Thursday discussed ways to strengthen bilateral trade, promote investments, and deepen cooperation between the two countries.The two ministers co-chaired the 7th India-Canada Ministerial Dialogue on Trade and Investment (MDTI) in New Delhi, marking “a renewed phase of engagement aimed at reinvigorating bilateral trade and investment ties and setting a forward-looking agenda for cooperation,” in line with the joint statement, the commerce ministry said.The joint statement, “Renewing Momentum towards a Stronger Partnership,” issued on Thursday, identified trade as the cornerstone of bilateral economic growth and resilience, the ministry added.Both ministers reaffirmed the enduring strength of the India-Canada relationship, anchored in shared democratic values, cultural diversity, and growing economic complementarities, the ministry said.“They highlighted the vital role of the vibrant Indian diaspora of nearly 2.9 million and over 427,000 Indian students in Canada, whose contributions continue to enrich both societies and serve as a bridge fostering deeper understanding, innovation, and economic collaboration,” it said.Bilateral trade in goods and services between India and Canada stood at $18.38 billion in 2023. The ministers welcomed the steady rise in two-way investments and reaffirmed their commitment to fostering an open, transparent, and predictable business environment that supports sustainable and inclusive growth, it said.Also Read: India, Nepal to boost rail trade connectivity with new Jogbani–Biratnagar freight linkThe ministerial dialogue covered a wide-ranging agenda encompassing key areas of economic cooperation. Discussions focused on strengthening bilateral economic ties and advancing collaboration across priority domains, including nutritional security, supply chain resilience, health sector cooperation, and investment facilitation.The two ministers also reviewed recent trade policy developments, covering trade in goods and services, and exchanged views on enhancing market access, promoting regulatory alignment, and supporting long-term economic resilience, the ministry said.Concluding the dialogue, the ministers reaffirmed their shared vision to renew and revitalize the India–Canada economic partnership, grounded in mutual respect, trust, and a spirit of collaboration. They agreed to translate the day’s constructive discussions into tangible outcomes that advance shared prosperity and reflect the depth and dynamism that define India-Canada relations, it added.