Canada Boosts Ties with India as Part of Diversification Strategy

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Canada has identified India as a key partner in its bid to reduce its dependence on the US and diversify trade. In a statement following the recent bilateral visit by Minister of International Trade Maninder Sidhu, Global Affairs Canada said India would play a crucial role in strengthening economic links in the Indo-Pacific region. The visit, described as "successful", reinforced Canada's commitment to deepening economic ties, diversifying trade, and advancing a relationship grounded in mutual respect. The two countries renewed the Ministerial Dialogue on Trade and Investment, with Sidhu and India's Commerce and Industry Minister Piyush Goyal as co-chairs. Sidhu also met with India's Petroleum and Natural Gas Minister Hardeep Singh Puri to discuss Canada's role as a reliable partner in liquefied natural gas, carbon capture, and critical minerals. These areas are critical to supporting India's energy transition and industrial growth. In a bid to further engagement, the Canadian Hindu Chamber of Commerce (CHCC) has announced a trade mission to India from January 2 to 12. The delegation will visit several Indian states and cities, providing a direct bridge between Canadian entrepreneurs and India's most promising sectors. The CHCC has also established an India-Canada Trade Committee to strengthen outreach and support efforts throughout the year. Other trade missions are expected to follow in early 2024, including one led by the Business Council of Canada. Canada's renewed focus on India comes as the country continues to be one of the world's fastest-growing economies. The Federal government has recognized the importance of strengthening ties with India, and Canadian businesses are eager to capitalize on the opportunities that arise from this growing relationship.