Visakhapatnam: Canada’s Minister of International Trade Maninder Sidhu said on Thursday that the sixth round of trade talks with India is currently underway, with both countries aiming to finalise the comprehensive economic partnership agreement (CEPA) before Prime Minister Narendra Modi’s anticipated visit his country next month.
Sidhu held a meeting with India’s Commerce and Industry Minister Piyush Goyal on the sidelines of the CII summit here to take the trade talks ahead.
Both sides highlighted energy, uranium, critical minerals, and investment as core pillars. Sidhu noted that Canada is scaling up its LNG projects, aiming to be the fifth-largest global exporter within five years, which will enable the country to support India’s rising energy demand.
Canada remains a leading investor in India, with institutional investors and pension funds (such as Fairfax) having invested over $100 billion. Discussions also touched on expanding tech collaborations in artificial intelligence and data infrastructure.
During the visit of India’s business delegation to Canada led by Commerce Minister Goyal in May this year, the second edition of the CII–CIBC report, ‘From India to Canada: Economic Impact and Engagement’, was released in the presence of Ministers Goyal and Sidhu.
The report highlights the significant and growing contribution of Indian companies to the Canadian economy. According to the findings, nearly 50 Indian companies have invested close to CAD $11 billion in Canada, generating over 33,000 jobs across the country. Indian businesses have established a presence across almost all Canadian provinces, reflecting the success of provincial-level engagement with India. The report also underscores the diversification of Indian investments across sectors such as technology, life sciences, manufacturing, mining, and other key industries.
In addition, Indian companies have invested approximately CAD $1.1 billion in research and development and contributed more than CAD $24 million towards corporate social responsibility initiatives, strengthening their engagement with local communities across Canada. Looking ahead, the report signals strong business confidence, with 100 per cent of surveyed companies planning to increase their investments in Canada over the next five years and 97 per cent intending to expand their workforce.
(IANS)
