With India-Canada bilateral trade currently at around $8.5 billion, Commerce and Industry Minister Piyush Goyal expressed commitment to increasing it to $50 billion by 2030. Goyal’s visit to Canada included engagements in academia, innovation, business councils, and with the Indian diaspora community in Toronto. Leading a significant Indian business delegation, Goyal aimed to revitalize economic relations between the two countries.
During the three-day visit covering Ottawa and Toronto, the focus was on advancing negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA). This visit emphasized the growing economic partnership between India and Canada, showcasing India as an attractive investment and technology collaboration hub globally.
Addressing the Munk School of Global Affairs and Public Policy at the University of Toronto, Goyal highlighted India’s economic progress and reforms under Prime Minister Narendra Modi. He emphasized the potential for stronger ties in academia, industry, and policymaking to enhance trade and investment between the two nations.
Goyal’s engagements extended to the Ontario Centre of Innovation, where he learned about initiatives supporting innovation and collaboration. Discussions with Canada-India Tech Connect centered on emerging technologies like Artificial Intelligence and Quantum Computing, emphasizing the potential for cooperation in high-growth sectors. Goyal also interacted with regional chambers to explore avenues for enhancing business collaboration and investment flows between India and Canada.
Meeting with Premier Doug Ford of Ontario, Goyal discussed opportunities for collaboration across various sectors like manufacturing, technology, clean energy, and infrastructure. Both leaders reaffirmed their commitment to strengthening trade and investment partnerships between India and Ontario.
