"The India-Canada partnership is anchored in shared democratic values, strong people-to-people ties, and expanding cooperation across diverse sectors. The visit marks a significant step in strengthening ties between the two nations, with discussions spanning trade, energy, technology, artificial intelligence and defence partnerships."
"Carney has previously said he wanted to more than double two-way trade with India by 2030, eyeing an annual target of $51 billion. This ambitious goal reflects Canada's commitment to diversifying its trade relationships and reducing dependence on United States markets amid ongoing trade tensions."
"India, for its part, is seeking to attract more overseas investments, and says Canadian pension and wealth funds have already invested $73 billion. The energy-hungry country, which is considered the world's fastest-growing major economy, also hopes Canada can support its ambitious plan to expand nuclear power capacity."
Canadian Prime Minister Mark Carney arrived in Mumbai to strengthen India-Canada relations and explore trade opportunities across multiple sectors including energy, technology, artificial intelligence, and defence. The visit aims to diversify Canada's trade partners amid tensions with the United States, where steep tariffs on Canadian exports prompted Carney to commit to doubling non-US exports over the next decade. Canada and India previously agreed to resume free-trade negotiations, with Carney targeting $51 billion in annual two-way trade by 2030. India seeks Canadian investment and support for nuclear power expansion, while Canadian pension funds have already invested $73 billion. The trip also addresses diplomatic tensions stemming from past disagreements over Sikh activist killings in Canada.
#canada-india-trade-relations #trade-diversification #us-trade-tensions #strategic-partnerships #economic-cooperation
Read at www.aljazeera.com
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