India–Canada hold talks to boost economic partnership

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The North News

New Delhi, November 14

India and Canada have pledged to “renew momentum” in their economic partnership as the two countries concluded the seventh Ministerial Dialogue on Trade and Investment (MDTI) in New Delhi. The talks were held between India’s Commerce and Industry Minister Piyush Goyal and Canada’s Minister for Export Promotion, International Trade and Economic Development, Maninder Sidhu, who visited India from  November 11-14. The meeting followed directions from both Prime Ministers after their discussions on the sidelines of the G7 summit in Kananaskis, Canada.

Both ministers reaffirmed the strength of the bilateral economic relationship, stressing the need for sustained dialogue and cooperation. They highlighted a steady rise in trade, with two-way goods and services reaching US$23.66bn in 2024. Merchandise trade alone hit nearly US$8.98bn — a 10% jump from the previous year.

The ministers welcomed increasing investment flows, noting strong Canadian institutional investment in India and the expanding footprint of Indian companies in Canada. These ties, they said, were supporting “tens of thousands” of jobs.

Both sides agreed to maintain a stable and transparent investment climate and explore deeper collaboration across emerging and priority sectors. They identified complementarities in areas such as critical minerals, clean energy, aerospace and dual-use technologies.

The two ministers also discussed global supply chain disruptions, calling resilience in key sectors — including agriculture — essential for long-term economic stability. The dialogue emphasised the need for diversified and reliable supply chains amid shifting global dynamics.