Canada and India: Strengthening Economic Ties

Canada's Prime Minister Mark Carney is set to visit India soon. This trip is part of a bigger plan to boost trade between the two countries. The visit is scheduled for early March, with Carney likely spending March 1-2 in New Delhi. Carney's visit comes at a time when Canada is looking to expand its trade relationships beyond the United States. This shift is partly due to trade tensions with the U. S. , including tariffs imposed by President Donald Trump. By strengthening ties with India, Canada hopes to diversify its trade partners and reduce reliance on the U. S. market. The trip also aims to repair some diplomatic damage. The previous Canadian Prime Minister, Justin Trudeau, had accused India of involvement in the killing of a Sikh separatist leader in 2023. India has strongly denied these claims. Carney's visit is seen as an effort to move past this controversy and focus on mutual economic benefits.Carney and Indian Prime Minister Narendra Modi have already discussed a trade pact. They agreed in November, during a G20 meeting, to start talks on a comprehensive economic partnership. Their goal is to double bilateral trade to $50 billion by 2030. This ambitious target shows how serious both countries are about strengthening their economic relationship. Canada's federal government has been working closely with provinces like Ontario to prepare for these talks. Ontario's Minister of Economic Development, Job Creation, and Trade, Victor Fedeli, has been involved in these efforts. Fedeli is also visiting New Delhi to participate in a global AI summit and to encourage Indian companies to invest in Ontario. Trade between Ontario and India has grown significantly since 2018, with a 60% increase. Indian companies like HCL, Paytm, and Tata Consultancy have established a strong presence in Ontario. This growth shows the potential for even greater economic cooperation between the two countries.