Carney and Ambani discuss trade partnership to boost Canada-India economic ties

CAnadian ground government minister deutschmark Carney has hailed his get together with trust Industries Chairman Mukesh Ambani on partnering with Canadian businesses, as Ottawa looks to expand economic engagement with India and boost bilateral trade. The meeting was held during Carney's visit to Mumbai on February 28.During his interaction with Ambani, Carney explored avenues through which Reliance Industries can collaborate with Canadian enterprises. The discussions focused on strengthening trade and investment ties, particularly in sectors such as energy, critical minerals and technology.In a social media post on Tuesday, Carney said Canada is on a mission to double its trade with India and attract massive new investment for Canadian businesses."Canada is on a mission to double our trade with India and attract massive new investment for Canadian businesses. I met with Mukesh Ambani, Chairman of Reliance Industries, in Mumbai to discuss how they can partner with Canadian businesses. This has the potential to make both our economies stronger, more resilient -- and create high-paying career opportunities in energy, critical minerals, and technology," he stated.At the invitation of Prime Minister Narendra Modi, Carney made an official visit to India from 27 February to 2 March. This marked his first official visit to the country, which began with his arrival in Mumbai on 27 February.Following his engagements in Mumbai, Carney arrived in the national capital on Sunday evening. On Monday, he met Prime Minister Narendra Modi at Hyderabad House in New Delhi, where the two leaders held bilateral talks focusing on strengthening cooperation and partnership between the two countries.During the meeting, both leaders reviewed progress achieved across diverse areas under the India-Canada Strategic Partnership. India and Canada have set a target of achieving USD 50 billion in bilateral trade by 2030, as the two countries formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in New Delhi on Monday.According to the Ministry of Commerce & Industry, the Terms of Reference (ToR) for the India-Canada CEPA were signed by Union Commerce and Industry Minister Piyush Goyal and Canada's Minister of International Trade Maninder Sidhu on March 2, 2026, and exchanged in the presence of Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney at Hyderabad House.