Union Commerce and Industry Minister Piyush Goyal on 28 May 2025 held a series of high-level meetings with business leaders, pension fund executives, and technology institutions in Toronto, pitching India as a trusted long-term economic partner and signalling a concerted push to reset India-Canada bilateral ties after two years of diplomatic strain.

Key Meetings and Engagements

Goyal met Ontario Premier Doug Ford, discussing opportunities to deepen India-Ontario collaboration in manufacturing, technology, infrastructure, clean energy, food processing, and critical minerals. He also held talks with Goldy Hyder, President and CEO of the Business Council of Canada, on expanding industry-led partnerships in technology, infrastructure, clean energy, critical minerals, and advanced manufacturing, including the role of the India-Canada CEO Forum in strengthening business-to-business ties.

In a separate meeting, Goyal sat down with John Graham, President and CEO of CPP Investments, to discuss expanding long-term institutional investments into India across infrastructure, logistics, renewable energy, transportation, financial services, and digital infrastructure. He described CPP's continued investments as reflecting 'strong global trust in India's economic fundamentals and future potential.' He also met Jo Taylor to explore investment opportunities in infrastructure, renewables, healthcare, technology, and manufacturing.

Innovation and Academia

The minister visited the Ontario Centre of Innovation and engaged with the Canada-India Tech Connect on emerging technologies including artificial intelligence and quantum computing. 'Canada can partner' with India in innovation sectors including AI, cleantech, agritech, and deep tech, he said. At the Munk School of Global Affairs and Public Policy, Goyal spoke about India's economic rise, highlighting 'India's rapid economic progress, transformative reforms, and growing global leadership' while calling for stronger trade, investment, and people-to-people ties.

Diaspora Outreach and Trade Context

At a community reception hosted by the Consulate General of India in Toronto, Goyal described India as 'the fastest growing large economy in the world today' and urged the Indian diaspora to become active partners in strengthening bilateral relations. He also pointed to India's expanding global trade footprint, noting that India had signed multiple free trade agreements covering 28 countries in recent years. 'We are very happy with the relationship that they have been able to research with the government of Canada, with the people of Canada,' he said, describing the two nations as 'two economies that complement each other and not in competition.'

Diplomatic Backdrop

The visit comes as India and Canada work to stabilise ties that deteriorated sharply in 2023, after former Canadian Prime Minister Justin Trudeau alleged that Indian agents were linked to the killing of Khalistani terrorist Hardeep Singh Nijjar in British Columbia. India rejected those allegations as 'absurd' and politically motivated. Goyal's Toronto engagements represent one of the most substantive ministerial-level interactions between the two countries since that diplomatic rupture, signalling that both sides are cautiously rebuilding economic engagement even as political sensitivities remain unresolved.