भारत आणि कॅनडाने निश्चित केले २०३० पर्यंत ७० अब्ज कॅनेडियन...

By GT24x7 Reporter · 29 August 2026 · GlobalToday24x7

In a major landmark for international economic diplomacy, India and Canada have formally agreed to expand their bilateral trade turnover to 70 billion Canadian dollars (approximately ₹4.65 lakh crore) by the year 2030. The strategic roadmap was finalized following high-level bilateral discussions in Toronto, Canada, between India’s Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, and Canada’s Minister of Finance and National Revenue, François-Philippe Champagne. The meeting marked the successful conclusion of the inaugural India-Canada Economic and Financial Dialogue, aimed at reinforcing structural economic partnerships, supply chain resilience, and institutional financial access.

During the dialogue, Minister Sitharaman highlighted India’s strong macroeconomic fundamentals, its expanding middle class, and its rapidly accelerating industrial ecosystem. She urged Canadian institutional investors, pension funds, and major venture capital firms to step up their investments in key Indian growth sectors. Both ministers identified critical domains for future cooperation, including clean energy transition, semiconductor fabrication, critical minerals, infrastructure development, healthcare, and digital financial technologies. Sitharaman also showcased Gujarat International Finance Tec-City (GIFT IFSC) and India's Unified Payments Interface (UPI) as prime platforms for joint financial innovation and institutional investment.

Fast-Tracking Trade Treaties and Investment Synergy

A key takeaway from the ministerial meeting was the renewed momentum toward concluding a comprehensive trade agreement and initiating talks for a Bilateral Investment Treaty (BIT). Canadian Minister François-Philippe Champagne characterized the C$70 billion trade goal as fully achievable, citing strong synergies between Canada's resource depth and India's massive manufacturing and digital capabilities.

Both leaders highlighted the expanding role of Canadian pension funds already operating in India and emphasized establishing stable, predictable tax frameworks to encourage long-term cross-border capital flow.

Global Strategic Alignment and Economic Outlook

The economic dialogue in Toronto reflects broader efforts by both New Delhi and Ottawa to build dependable supply chains in critical minerals, green energy, and advanced technologies. With two-way merchandise trade continuing to grow, both governments expressed confidence that expanding economic partnerships will serve as a resilient anchor for bilateral relations over the coming decade.

Minister Sitharaman reaffirmed India's readiness to provide global markets with trusted, cost-effective manufacturing and technological solutions, marking a new chapter in Indo-Canadian economic ties as the delegation moves forward with further international engagements.