New Delhi, Nov 14 India and Canada have agreed to hold sustained ministerial engagements with the trade and investment community in both countries early next year, an official statement said on Friday.
The agreement was made at the ‘Ministerial Dialogue on Trade and Investment’ between Union Minister for Commerce and Industry Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development, Maninder Sidhu.
Sidhu's four-day visit in India ended on Friday, with the ministers emphasising continued engagement with the private sector to unlock new opportunities for trade and investment.
Further, they reaffirmed the strength and continuity of the India–Canada economic partnership.
The ministers noted that bilateral trade in goods and services reached $23.66 billion in 2024, with merchandise trade value touching $8.98 billion, up 10 per cent on-year.
They agreed to encourage long‑term supply‑chain partnerships in critical minerals and clean energy collaboration to support the energy transition.
Further, they agreed to expand investment and trading opportunities in aerospace and dual-use capabilities partnerships to identify investment and trading opportunities in aerospace and dual‑use capabilities leveraging the growth of India’s aviation sector..
They also highlighted the need for strengthening resilience in critical sectors, including agriculture, and highlighted the need for diversified and reliable supply chains.
"The ministers welcomed the steady expansion of two-way investment flows, including notable Canadian institutional investment in India and the growing presence of Indian firms in Canada, which together support tens of thousands of jobs," the statement noted.
The ministerial trade meeting followed the direction provided by Foreign Ministers of the two countries during their bilateral meeting on the sidelines of the G7 meeting in Kananaskis, Canada.
External Affairs Minister (EAM) S. Jaishankar and his Canadian counterpart, Anita Anand, held discussions on strengthening cooperation across key sectors, including trade, energy and security. Both leaders met on the sidelines of the G7 Foreign Ministers' Meeting in Niagara.
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