New Delhi— Union Commerce Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade, and Economic Development, Maninder Sidhu, held the 7th India-Canada Ministerial Dialogue on Trade and Investment (MDTI) in New Delhi on Thursday, focusing on boosting bilateral trade, promoting investments, and deepening economic cooperation.
According to the commerce ministry, the dialogue marked a “renewed phase of engagement” aimed at reinvigorating trade and investment relations and setting a forward-looking agenda for collaboration. The joint statement titled “Renewing Momentum towards a Stronger Partnership” described trade as the cornerstone of bilateral economic growth and resilience.
Both ministers reaffirmed the enduring strength of India-Canada relations, grounded in democratic values, cultural diversity, and expanding economic complementarities. They also acknowledged the contributions of the vibrant Indian diaspora of 2.9 million people and over 427,000 Indian students in Canada, noting their crucial role in fostering innovation, mutual understanding, and economic collaboration between the two nations.
Bilateral trade in goods and services between India and Canada reached $18.38 billion in 2023. The ministers welcomed the consistent rise in two-way investments and pledged to uphold an open, transparent, and predictable business environment conducive to sustainable and inclusive growth.
The dialogue covered a wide-ranging agenda, including discussions on nutritional security, supply chain resilience, health sector cooperation, and investment facilitation. The ministers also reviewed recent trade policy developments, focusing on expanding market access, aligning regulatory frameworks, and building long-term economic resilience.
Concluding the meeting, both sides reaffirmed their shared vision to revitalize the India-Canada economic partnership based on mutual respect, trust, and collaboration. They agreed to translate the dialogue’s constructive outcomes into actionable steps to advance shared prosperity and reflect the growing dynamism of bilateral relations.
