Canada has announced a trade mission to India, scheduled for November, aiming to strengthen bilateral trade ties by exploring collaboration opportunities in sectors such as artificial intelligence, critical minerals, nuclear energy, renewable energy, semiconductors, clean technology, digital infrastructure, and advanced manufacturing. This announcement was made during the Canada-India Building Bridges event in Toronto.
Canada-India Building Bridges Event
The event, hosted by Global Affairs Canada, Confederation of Indian Industry (CII), and ASSOCHAM at the World Trade Centre Toronto, featured a fireside chat between Piyush Goyal and Sidhu. Goyal emphasized the "growing complementarities between India and Canada" and the need for a "more robust and predictable business ecosystem."
"We invite Canadian investors to partner with India in sectors including clean energy, technology, digital infrastructure, artificial intelligence, manufacturing, and supply chain diversification," said Goyal.
Investment Opportunities
During his visit, Goyal engaged with leading Canadian companies and financial investors from sectors such as insurance, food processing, banking, and critical minerals processing. Discussions focused on India's macroeconomic outlook, trade agreements, and opportunities in high-growth sectors.
- STEM Talent: Highlighted as a key resource.
- Global Capability Centres (GCCs): Discussed as a growing trend.
- Production Linked Incentive (PLI) Schemes: Presented as an opportunity for investors.
Bilateral Trade Goals
The trade mission aims to enhance cooperation in financial markets to support sustainable growth and shared prosperity. Both countries are working towards sealing a free trade deal by November-end.
| Sector | Focus Area |
|---|---|
| Artificial Intelligence | Collaboration Opportunities |
| Clean Technology | Investment Partnerships |
| Digital Infrastructure | Ecosystem Development |
The Ministry of Commerce & Industry of India and Canadian counterparts are keen on fostering a stronger bilateral trade relationship, leveraging the strengths of both nations in various high-tech and sustainable sectors.
