5 days ago
India and Canada Seek Deeper Trade, Investment and Supply-Chain Ties
India and Canada want to work more closely on their economies.
Finance Minister Nirmala Sitharaman said India can bring a large market and growth opportunities.
She said Canada can provide long-term investment money.
The countries are discussing food, energy and important minerals.
These partnerships could help them handle problems when global supplies are disrupted.
Sitharaman is visiting Canada and the United States from August 25 to September 2.
In Toronto, she is taking part in a new economic meeting and meeting businesses and investors.
India and Canada want their trade to reach $50 billion by 2030.
Finance Minister Nirmala Sitharaman said India offers Canada scale, growth and opportunity, while Canada offers long-term capital.
She identified food security, energy security and critical minerals as areas for stronger bilateral cooperation.
The proposed cooperation aims to improve purchasing power and help both countries manage global supply-chain disruptions.
Sitharaman is visiting Canada and the United States from August 25 to September 2.
India and Canada aim to raise bilateral trade to $50 billion by 2030 while pursuing a Comprehensive Economic Partnership Agreement.
- Who
- India, Canada and Finance Minister Nirmala Sitharaman.
- What
- The countries are seeking stronger economic, investment and supply-chain cooperation.
- Where
- The discussions include Toronto, Canada, as well as the United States.
- When
- Sitharaman's official visit runs from August 25 to September 2; the trade target is for 2030.
- Why
- To expand trade and investment, strengthen purchasing power, improve food and energy security, and reduce supply-chain concentration risks.
Key facts
- Indian official
- Nirmala Sitharaman, Finance Minister
- Visit dates
- August 25 to September 2
- Toronto program
- Participation in the inaugural Economic and Financial Dialogue
- Cooperation areas
- Food security, energy security, artificial intelligence and critical minerals
- Trade target
- Increase bilateral trade to $50 billion by 2030
- Trade agreement
- India and Canada are working toward a Comprehensive Economic Partnership Agreement
Quotes
Nirmala Sitharaman
India’s Finance Minister
“On food security and energy security, and critical minerals, there can be such a relationship between Canada and India that will go to the strengthening of our people's purchasing power, ability to face supply chain disruptions and there will be a conscious effort to address the concentration risks in global sourcing of important commodities”
timesnownews.com
Sources
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