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India-Canada Trade Talks Resume: FTA on Horizon?
18 Feb
Summary
- India and Canada to finalize terms for free trade talks.
- Trade pact negotiations were paused by Canada in 2023.
- Bilateral trade reached USD 18.38 billion in 2023.
Canada's Prime Minister Mark Carney is expected in India next month, with the two nations anticipating the finalization of terms of reference for free trade agreement (FTA) talks. These terms will define the scope and methods for the proposed trade pact.
Negotiations for a trade pact were previously underway but were halted by Canada in 2023. Both countries have now agreed to restart discussions from the ground up, acknowledging significant shifts in the global trade landscape over the past two years.
Chief negotiators have been appointed by both sides, with Brij Mohan Mishra representing India and Bruce Christie for Canada. This renewed push comes as bilateral trade in goods and services reached USD 18.38 billion in 2023.
In 2024-25, India's exports to Canada saw a 9.8 percent increase, amounting to USD 4.22 billion, while imports declined slightly. The article also highlights the substantial Indian diaspora and student population in Canada.
