India and Canada Rekindle Free Trade Talks Amidst Diplomatic Advancements

India and Canada have resumed Free Trade Agreement negotiations after diplomatic challenges. Commerce Minister Piyush Goyal highlighted the robust growth in bilateral trade, emphasizing resilient supply chains. Both nations are committed to deepening economic cooperation and maintaining momentum in future discussions, as demonstrated during the CII Partnership Summit in Visakhapatnam.

Union Commerce and Industry Minister Piyush Goyal announced that India and Canada are actively pursuing the resumption of Free Trade Agreement (FTA) negotiations. The news comes after two rounds of discussions, emphasizing the optimism both nations share towards advancing their economic partnership.

The talks signify a significant thaw in relations, following years of diplomatic strain tied to the assassination of a Canadian Sikh activist. November saw India and Canada reiterate their dedication to strengthening economic cooperation. This was marked by a ministerial dialogue where Ministers Piyush Goyal and Maninder Sidhu focused on trade and investment as key components of bilateral ties.

The dialogue highlighted the impressive growth in trade, which reached USD 23.66 billion. With the reviewed supply chain disruptions, both ministers stressed enhancing resilience, especially in agriculture, and acknowledged the positive progress made. They confirmed continued engagement in 2024, spotlighting India's expanding diplomatic outreach.

(With inputs from agencies.)