India and Canada Agree to Strengthen Bilateral Cooperation and Expand Trade

Strategic Insights -

India and Canada have agreed to strengthen bilateral trade and economic cooperation as part of an effort to reset ties that were strained in 2023. The two countries will work together to rebuild trust and deepen bilateral cooperation, with their High Commissions and Consulates set to strengthen institutional capacity in areas such as economics, politics, defense, and technology. A Joint Statement issued after talks between Canadian Foreign Minister Anita Anand and India's External Affairs Minister S Jaishankar noted the two countries' commitment to expanding collaboration on global issues, including working to ensure more effective and inclusive multilateral institutions.

Key Takeaways:

  • India and Canada have agreed to strengthen bilateral trade and economic cooperation, including commencing ministerial-level discussions on bilateral trade and investment.
  • The two countries will resume the Canada-India CEO Forum to facilitate increased bilateral trade and investment, with a focus on priority sectors like clean technology, infrastructure, agri-food, and digital innovation.
  • India and Canada have reaffirmed their intention to support sector activities and deepen cooperation in advancing clean, secure, and equitable energy collaboration.
  • The two countries will work together on emission reduction, environmental management, power sector digitalization, and disaster resilience, and advance global energy efficiency process, including through multilateral fora like the G20.
  • India and Canada have agreed to deepen collaboration to unlock new frontiers in science and technology (S&T), including AI, and digital infrastructure, with early initiatives including the relaunch of the Joint Science and Technology Cooperation Committee (JSTCC).
  • The two countries will focus on developing stable and sustainable supply chains, improving agri-value chains through the exchange of best practices and technological cooperation, enhancing nutritional security, and promoting recycling of agri-waste into energy and organic fertilizers and advancing innovation in climate-resilient agriculture and food systems.
  • Anita Anand and S Jaishankar recognized the substantial increase in bilateral trade, which reached $23.66 billion in 2024, and the expanding presence of Indian and Canadian enterprises in each other's markets.

Statistics:

  • Bilateral trade between India and Canada reached $23.66 billion in 2024.
  • The two countries have committed to commencing ministerial-level discussions on bilateral trade and investment.
  • The Canada-India CEO Forum will convene on the margins of a senior-level trade mission in early 2026.
  • The two countries will work together on climate action, environmental protection, and conservation, support joint climate and environmental goals, and find effective, long-term solutions.

Sources:

  • United News of India, October 13
  • Joint Statement issued after talks between Canadian Foreign Minister Anita Anand and India's External Affairs Minister S Jaishankar