Industry body Apparel Export Promotion Council (AEPC) expressed its appreciation for the enhanced relations between India and Canada, particularly the revival of talks on a Comprehensive Economic Partnership Agreement (CEPA). Dr. A. Sakthivel, Chairman of AEPC, highlighted that the potential signing of CEPA could lead to a twofold increase in apparel exports to Canada over the next three years, offering significant prospects for investment and employment opportunities.
The establishment of this comprehensive trade framework is seen as a pivotal factor in expanding bilateral trade and revitalizing investments based on economic synergies, according to Sakthivel. Currently, apparel exports to Canada stand at $250 million, indicating the room for growth and collaboration between the two nations in the sector.
AEPC also welcomed the recent visit of Canadian Prime Minister Mark Carney, emphasizing the shared commitment to strengthening economic ties through a mutually beneficial CEPA. This partnership not only presents opportunities for sustainable energy production but also positions India as an ethical and responsible sourcing hub, as noted by Sakthivel.
The deepening relations are expected to facilitate technology transfers, research and development collaborations, as well as advancements in artificial intelligence and automation within the industry, enabling enhanced production scalability and global compliance standards. Both leaders emphasized the importance of skill development and talent mobility in fostering stronger people-to-people connections between India and Canada, as highlighted by Chairman AEPC.
In a recent development in New Delhi, Canada and India announced a “Strategic Energy Partnership,” with Canadian company Cameco set to supply approximately 22 million pounds of uranium from 2027 to 2035 to fuel India’s civil nuclear reactors. The Canadian government has set a target of more than doubling two-way trade to $70 billion by 2030, with CEPA playing a crucial role in achieving this goal.
Prime Minister Modi and his Canadian counterpart discussed the restoration of diplomatic staffing levels in both nations to their previous capacities, signaling a mutual commitment to strengthening bilateral ties. The recent initiatives taken post the appointment of Mark Carney as the Canadian PM have laid the groundwork for enhancing India-Canada relations, including the appointment of Dinesh K Patnaik as the Indian High Commissioner to Canada.
