India and Canada Strengthen Economic Ties During Ministerial Dialogue

India and Canada held the 7th Ministerial Dialogue on Trade and Investment, focusing on enhancing bilateral trade and setting a future agenda. The dialogue highlighted shared values and economic growth while addressing sectoral collaboration in areas like health and supply chain resilience.

In a significant move toward strengthening bilateral economic ties, India's Commerce Minister Piyush Goyal and Canada's Minister of Export Promotion, International Trade and Economic Development, Maninder Sidhu, co-chaired the 7th India-Canada Ministerial Dialogue on Trade and Investment (MDTI) in New Delhi on Thursday. The meeting seeks to set a forward-looking agenda, in line with their joint statement, "Renewing Momentum towards a Stronger Partnership".

The dialogue emphasized the enduring bonds between India and Canada, rooted in shared democratic values and cultural diversity. Both ministers acknowledged the vital contributions of the Indian diaspora in Canada, which numbers nearly 2.9 million, including over 427,000 students, and plays a crucial role in fostering innovation and economic collaboration.

With bilateral trade between the two countries reaching USD 18.38 billion in 2023, the ministers reviewed trade policies and discussed ways to enhance market access and regulatory alignment. The talks covered economic growth areas such as nutritional security and health sector cooperation, reiterating their shared vision to renew and revitalize their economic partnership.

(With inputs from agencies.)