India, Canada Ties Revitalized as Mark Carney Embarks on Historic 4-Day Visit
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Welcoming Canadian Prime Minister Mark Carney to India, Prime Minister Narendra Modi said the ties between India and Canada have been “energised.”
Canada's PM Mark Carney is on a four-day visit to India as Ottawa moves to diversify its trade relations and renew ties with New Delhi after a diplomatic falling out.
“There are very few people in the world whose CVs include central banking leadership in two countries. Since our first meeting, our relationship has been energised, mutual trust and positivity have blossomed,' said PM Modi during the joint address with his Canadian counterpart.
Carney hailed the "expansion" of ties with India in his address, stating that there has been more engagement between the Canadian and Indian governments in the last year than there has been in more than two decades combined.
During his four-day visit, which kicked off in India's financial hub Mumbai, the Canadian prime minister stated that this visit will work towards establishing new economic and trade partnerships with New Delhi.
Echoing this sentiment, PM Modi announced that the two leaders “discussed transforming this vision into a next-level partnership. Our goal is to reach $50 billion in trade by 2030.”
“Unlocking the full potential of economic cooperation is our priority. Therefore, we have decided to finalise the Comprehensive Economic Partnership Agreement soon. This will create new investment and employment opportunities in both countries,” he added further.
India and Canada signed several memorandums of understanding as they move to renew their ties, including deals on cooperation in technology and innovation, promotion of renewable energy, and cooperation on critical minerals and uranium supply.
