India, Canada explore new avenues to expand bilateral trade and investment

NEW DELHI: Commerce and Industry Minister Piyush Goyal and Maninder Sidhu, Canada's Minister of International Trade, discussed ways to further boost bilateral trade and promote investments, it was announced on Thursday.

Sidhu is in India to find opportunities to advance trade and investment linkages between the two nations.

"It was a pleasure to co-chair the 7th India-Canada Ministerial Dialogue on Trade and Investment as part of the New Roadmap 2025 along with @MSidhuLiberal, Canada's Minister of International Trade," Goyal posted on the X social media platform.

The minister further stated that they discussed "avenues to strengthen bilateral trade, promote investments and deepen cooperation between our countries".

During his India visit, Sidhu is set to promote Canada's commitment to supporting and growing the well-established commercial ties shared by Canada and India, including artificial intelligence, clean technology and digital industries, and explore new opportunities for partnerships that benefit workers and businesses in both countries.

"This visit to India will reinforce Canada's commitment to diversifying our trade relationships and attracting new investment," an official statement quoting Sidhu said. "As one of the fastest-growing major economies, India offers significant opportunities for Canadian businesses and workers. Our commercial ties continue to expand -- bilateral trade surpassed $30 billion in 2024 -- and there is even greater potential ahead," the statement added.

India is a key partner as Canada strengthens its economic links in the Indo-Pacific region under a comprehensive strategy for the region. In 2024, India was Canada's seventh-largest goods and services trading partner, with two-way trade valued at $30.9 billion. (IANS)

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