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India-Canada Trade Summit: Mega Delegation Eyes $50B Goal
23 May
Summary
- India's Trade Minister to visit Canada with 150 industry leaders.
- Targeting $50 billion in bilateral trade within five years.
- Focus on free trade agreement, critical minerals, and tech cooperation.
India's Trade Minister Piyush Goyal is scheduled to visit Canada between May 25 and May 27, heading a significant delegation comprising approximately 150 Indian industry leaders. This visit is a strategic effort to enhance trade and investment relations between the two nations. The delegation plans to engage in high-level meetings with Canadian ministers and business executives in Ottawa and Toronto.
The core objective of the trip includes advancing discussions on a free trade agreement, with specific attention to sectors like energy and critical minerals. India also aims to create new opportunities for its textile and leather industries through this partnership. Both countries are committed to finalizing terms for a comprehensive economic partnership, building on agreements made in March.
Discussions will also encompass cooperation in technology, food processing, clean energy, and critical minerals, aligning with both nations' strategic interests. Canada's substantial investment in India, nearing $100 billion through pension funds and companies, underscores the existing strong economic ties. The aim is to further increase this investment and bilateral trade to $50 billion within the next five years.
