Will India and Canada Continue Trade Engagements in 2024?
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Synopsis
India and Canada are set to enhance trade relations with ongoing ministerial engagements in 2024. This development follows fruitful discussions between key ministers, emphasizing collaboration in critical sectors. As both nations strengthen their economic partnership, new opportunities in investment and trade are on the horizon, promising mutual benefits.
Key Takeaways
- India and Canada to continue ministerial dialogues in 2024.
- Focus on trade and investment opportunities in critical sectors.
- Bilateral trade reached $23.66 billion in 2024.
- Growth in merchandise trade valued at $8.98 billion.
- Commitment to clean energy and aerospace collaborations.
New Delhi, Nov 14 (NationPress) India and Canada have reached a consensus to maintain ongoing ministerial dialogues with the trade and investment sectors in both nations early in the coming year, as per an official announcement made on Friday.
This agreement was established during the ‘Ministerial Dialogue on Trade and Investment’ involving Union Minister for Commerce and Industry Piyush Goyal and Canada’s Minister for Export Promotion, International Trade and Economic Development, Maninder Sidhu.
Sidhu concluded his four-day visit to India on Friday, during which the ministers emphasized the importance of continued interactions with the private sector to uncover new avenues for trade and investment.
Moreover, they reiterated the strength and ongoing nature of the India–Canada economic partnership.
The ministers acknowledged that bilateral trade in goods and services hit $23.66 billion in 2024, with the value of merchandise trade increasing to $8.98 billion, reflecting a 10 percent year-over-year growth.
They committed to fostering long-term supply chain collaborations in critical minerals and clean energy initiatives to aid in the energy transition.
Additionally, they concurred on expanding investment and trading avenues in aerospace and dual-use capabilities, capitalizing on the growth of India’s aviation industry.
They also underscored the necessity of enhancing resilience in vital sectors, such as agriculture, and stressed the importance of diversified and dependable supply chains.
"The ministers welcomed the consistent growth of reciprocal investment flows, including significant Canadian institutional investments in India and the increasing presence of Indian companies in Canada, which collectively support tens of thousands of jobs," the statement added.
This ministerial trade meeting was held following guidance from the Foreign Ministers of both nations during their bilateral discussions at the G7 meeting in Kananaskis, Canada.
External Affairs Minister (EAM) S. Jaishankar and his Canadian counterpart, Anita Anand, engaged in talks to strengthen cooperation across critical areas, including trade, energy, and security. Both leaders met during the G7 Foreign Ministers' Meeting in Niagara.
Point of View
I believe this ongoing engagement between India and Canada marks a pivotal step forward in strengthening bilateral relations. The emphasis on trade, investment, and collaboration in critical sectors is not just beneficial for both economies but also reflects a commitment to fostering resilience in a rapidly changing global landscape. We must continue to monitor these developments closely.
NationPress
14/11/2025
Frequently Asked Questions
What is the purpose of the ministerial engagements between India and Canada?
The ministerial engagements aim to enhance trade and investment opportunities between the two countries, focusing on collaboration in critical sectors such as clean energy and aerospace.
How much did bilateral trade between India and Canada amount to in 2024?
Bilateral trade in goods and services reached $23.66 billion in 2024, with merchandise trade valued at $8.98 billion, showing a growth of 10 percent year-on-year.
