India Seeks Stronger Trade Partnership With Canada After Diplomatic Strain
WASHINGTON — Union Commerce and Industry Minister Piyush Goyal has urged Indian and Canadian businesses to deepen economic engagement, calling the two countries trusted democratic partners with significant room to expand trade and investment ties.
Speaking Tuesday at the opening ministerial plenary session titled “From Political Reset to Commercial Delivery” in Toronto, Goyal said India and Canada share “tremendous complementarity” and major opportunities for future growth. He appeared alongside Canadian Minister of International Trade Maninder Sidhu.
“We see tremendous complementarity between our two economies. We see tremendous possibilities in taking this relationship to the next level,” Goyal said.
Goyal said India had sent its “largest ever delegation to leave the shores of India” to Toronto as a sign of New Delhi’s commitment to rebuilding economic momentum with Canada.
Opening his remarks with greetings in multiple Indian languages, Goyal said diversity remains a defining feature of the India-Canada relationship.
“Diversity defines the Canada-India partnership,” he said, adding that the relationship reflected how “the people of these two very consequential and important economies and businesses, vibrant democracies, trust each other, believe in each other, wish to engage with each other.”
Goyal said the foundation of the partnership rests on democratic institutions and mutual confidence among governments, businesses and people.
“The strong roots in our two democracies, where we believe very powerful institutions uphold the rule of law,” remain the core strength of the relationship, he said.
Referring to recent tensions between the two countries, Goyal used a personal analogy to call for sustained engagement and trust-building.
“We may have a few misunderstandings, we may have a few disagreements, but marriages are forever. Marriages are to be nurtured, so are relationships, so are friendships, so are partnerships,” he said.
Goyal said the two-day business engagement should send “a message of mutual respect, a message of trust, a message of friendship.”
He also highlighted the broad makeup of the Indian delegation, saying it included representatives from “various sectors, various chambers, various parts of India.”
Drawing a comparison between the two countries’ major commercial centers, Goyal said: “I come from Mumbai. It’s the financial and commercial capital of India, probably like Toronto.”
In a post on X after the session, Goyal said he had invited Canadian businesses and industry leaders to become “active participants in India’s growth story.” He also said the proposed Comprehensive Economic Partnership Agreement would serve as a “key catalyst” in expanding bilateral trade and investment ties.
India and Canada have major economic interests in energy, technology, education, agriculture and critical minerals. Talks on a broader trade deal, including the proposed Comprehensive Economic Partnership Agreement, had advanced through several rounds before slowing amid the diplomatic standoff. (Source: IANS)
