India, Canada strengthen economic partnership

India and Canada reaffirmed a strong and forward-looking economic partnership during the 7th Ministerial Dialogue on Trade and Investment held in New Delhi. The dialogue — co-chaired by India’s Commerce & Industry Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development Maninder Sidhu — underlined growing bilateral trade, expanding investments, and new cooperation opportunities in strategic sectors. Press Information Bureau+1

Trade and investment at a glance

Bilateral trade in goods and services reached US$23.66 billion in 2024, with merchandise trade valued at nearly US$8.98 billion — a nearly 10% year-on-year increase. Both ministers welcomed steady two-way investment flows, including notable Canadian institutional investment in India and the growing presence of Indian firms in Canada. These investments support jobs and deepen economic linkages between the two countries. mint+1

Priority areas for deeper cooperation

Both sides identified several high-priority and emerging sectors for enhanced collaboration:

• Critical minerals & clean energy — build long-term supply-chain partnerships to support the energy transition. Press Information Bureau

• Aerospace & dual-use capabilities — leverage Canada’s aerospace expertise alongside India’s rapidly growing aviation market. Press Information Bureau

• Supply-chain resilience — diversification and reliability were highlighted as essential, especially for agriculture and other strategic sectors. News on AIR

Private sector & people-to-people ties

Ministers stressed the need for continued private-sector engagement to unlock trade and investment opportunities, and emphasized people-to-people links as a foundation for sustained ties. They agreed on sustained ministerial engagements and close communications into the coming year to translate dialogue into actionable projects and investments. Press Information Bureau+1

What this means for businesses and investors

For companies and investors, renewed momentum between India and Canada signals:

• Increased opportunities in green tech, battery materials, and mining services (critical minerals).

• Stronger market access and possible collaboration in aviation components, maintenance, repair and overhaul (MRO), and aerospace R&D.

• Potential for joint ventures and institutional investment flows supporting job creation on both sides. policyedge.in+1

Conclusion

The 7th Ministerial Dialogue reaffirmed that India–Canada economic relations are resilient and evolving. With trade at record levels and both governments committed to deeper collaboration in critical minerals, clean energy, aerospace, and supply-chain resilience, the next phase of the partnership will likely be driven by targeted investments, private-sector initiatives, and concrete project-level cooperation. Businesses and investors should monitor ministerial follow-ups and sectoral working groups — these will be the channels that convert diplomatic momentum into real projects and jobs. Press Information Bureau+1

Reference Link

• “India–Canada Ministerial Dialogue” → Official PIB press release. Press Information Bureau

• “India–Canada trade 2024” → Livemint or Business Standard coverage. mint+1

• “critical minerals partnership” → think-tank analysis or policy brief on critical minerals (e.g., Brookings/PolicyEdge). policyedge.in

• “aerospace collaboration” → Canadian aerospace association or industry report.