Canada Pins Hopes on India to Boost Non-US Exports Amid Trade Diversification Efforts
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In a bid to strengthen trade ties and achieve its goal of reaching CA$ 300 billion in non-US exports within the next decade, Canada's Minister of International Trade, Maninder Sidhu, has concluded a bilateral visit to India. Sidhu aims to maintain the momentum in the relationship and has invited Indian Commerce and Industry Minister Piyush Goyal to visit Canada early next year with a trade delegation. The trip follows a meeting between Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi at the G7 leaders' summit in June, and comes as Canada seeks to diversify its trade portfolio, particularly after the US imposed tariffs earlier this year. Sidhu emphasized that India and the Indo-Pacific region are crucial to Canada's trade resilience strategy. Bilateral trade between the two countries surpassed CA$ 30 billion in 2024, making India Canada's third-largest trading partner in the region. Sidhu highlighted the potential for growth in sectors such as clean tech, agriculture, and aerospace. He also mentioned that India's need for 70% more energy by 2040 presents an opportunity for Canada to provide reliable and stable clean energy solutions. While negotiations for a trade deal are not imminent, Sidhu's visit is seen as a step towards scoping out the possibilities for future cooperation. The Canadian minister acknowledged the challenges in the relationship, including past allegations of Indian involvement in the killing of a pro-Khalistan figure in Canada, but emphasized Ottawa's focus on the security of Canadians and ongoing security dialogue between the two countries. As Canada works to reset its relationship with India, Sidhu's visit marks a significant development in the country's efforts to diversify its trade portfolio and achieve its non-US export targets. The visit also underscores the potential for increased collaboration in key sectors and the importance of in-person engagement in building lasting trade partnerships.
