India and Canada reaffirmed the strength and continuity of their economic partnership during the 7^th ministerial dialogue on trade and investment. India’s Commerce and Industry Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development Maninder Sidhu committed to deepening bilateral cooperation through sustained dialogue, mutual respect, and forward-looking initiatives.

The ministers reaffirmed the strength and continuity of the India–Canada economic partnership and reiterated their commitment to deepening bilateral cooperation through sustained dialogue, mutual respect, and forward-looking initiatives.

India and Canada reaffirmed their strong and resilient economic partnership during the 7th ministerial dialogue on trade and investment, highlighting robust 2024 bilateral trade of $23.66 billion and growing two-way investments.
The ministers committed to deeper cooperation in critical minerals, clean energy, aerospace, and supply chain resilience.

The ministers noted robust growth in bilateral trade in goods and services which reached $23.66 billion in 2024, with merchandise trade valued at nearly $8.98 billion, a substantial 10 per cent increase over the previous year. The ministers reaffirmed the strength and resilience of the India–Canada economic partnership and emphasised the importance of continued engagement with the private sector to unlock new opportunities for trade and investment. They welcomed the steady expansion of two-way investment flows, including notable Canadian institutional investment in India and the growing presence of Indian firms in Canada, which together support tens of thousands of jobs in both economies. The ministers committed to maintaining an open, transparent, and predictable investment environment and to exploring avenues for deeper collaboration across priority and emerging sectors.

The ministers also noted strong complementarities between India and Canada across strategic sectors driving sustainable growth and innovation and offering new opportunities for trade. Recognising that these areas would require separate domain-level engagement between relevant stakeholders on both sides, the ministers agreed to encourage long-term supply chain partnerships in critical minerals and clean energy collaboration essential for energy transition, and new-age industrial expansion. They have also agreed to identify and expand investment and trading opportunities in aerospace and dual-use capabilities partnerships, leveraging Canada’s established presence in India and the growth of India’s aviation sector, the Ministry of Commerce and Industry said in a press release.

Recognising the importance of supply chain resilience the ministers exchanged views on global developments and reflected on lessons from recent disruptions. They underscored the relevance of strengthening resilience in critical sectors, including agriculture, and highlighted the need for diversified and reliable supply chains as essential for supporting long-term economic stability.

The ministers expressed satisfaction with the progress made in strengthening bilateral economic engagement and reaffirmed their shared commitment to elevate the economic partnership to reflect global developments and evolving supply chain and trade dynamics. They emphasised the importance of maintaining momentum in the bilateral dialogue and supporting people-to-people ties, which provide a strong foundation for the partnership. 

The ministers agreed to sustained ministerial engagements with the trade and investment community in both Canada and India early next year. They agreed to remain in close communication as they consider next steps and concluded by acknowledging the constructive and forward-looking discussions held in New Delhi.

Fibre2Fashion News Desk (RR)