India and Canada Set to Strengthen Economic Ties with New FTA Talks

India and Canada are resuming negotiations for a Free Trade Agreement (FTA) aimed at boosting two-way trade to $50 billion by 2030. This move signifies trust between the countries and offers numerous opportunities in critical minerals and nuclear energy, despite past diplomatic tensions.

India and Canada have revived talks on a Free Trade Agreement (FTA) with the goal of increasing trade to $50 billion by the year 2030. Commerce and Industry Minister Piyush Goyal highlighted the strategic importance of this pact at a recent event.

The agreement builds confidence among investors and businesses in both countries, emphasizing the complementary nature of their economies. Collaborative opportunities in areas like critical minerals and nuclear energy were underscored.

Negotiations had stalled in 2023 following diplomatic strains, but renewed discussions signify a positive shift, reinforced by a meeting between India's Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during the G7 summit.

(With inputs from agencies.)