Canada-India Ties Strengthen as Ministers Signal Progress on Bilateral Trade Deal

Canadian Finance Minister François-Philippe Champagne and Indian Finance Minister Nirmala Sitharaman met in Toronto on Thursday, with both sides emphasizing the need to strengthen economic and trade relations between the two countries.

Speaking at a news conference in the presence of Sitharaman, Champagne said Canada and India have complementary strengths and can benefit from deeper cooperation. He said Canada can contribute to India’s energy and food security, while India has the ability to provide Canada with talent and technology on a large scale.

Sitharaman, meanwhile, signalled that the two countries could move toward finalizing a bilateral trade agreement soon. She said Canada and India have clearly identified sectors with strong trade potential and that discussions are continuing at various levels.

According to Sitharaman, the ongoing bilateral engagement could create new opportunities for citizens and businesses in both countries in the coming days.

The push to deepen trade ties with India comes as Canada continues to face trade tensions with the United States. Ottawa believes that reaching a trade agreement with a major economy such as India could provide significant opportunities for Canadian exporters and help diversify Canada’s international trade relationships.