India, Canada Reset Ties: $50 Billion Trade Target, Defence And AI Deals Signed | ANI
Canadian Prime Minister Mark Carney’s visit to India yielded a number of positive outcomes for both India and Canada. The visit, which is his official visit to India, took place from February 27 to March 2. On Monday, the two Prime Ministers met and held delegation-level talks. seeking to put the relationship back on track. A number of key MoUs were signed after the meeting across a range of sectors in the fields of artificial intelligence (AI), defence, critical minerals, healthcare and people-to-people exchanges. Both leaders set a target of $50 billion for bilateral trade by 2030 and the Terms of Reference (ToR) were finalized for the launch of negotiations toward Comprehensive Economic Partnership Agreement (CEPA).
Speaking about the India-Canada relationship, Prime Minister Modi said that he was pleased to welcome Ottawa into the International Solar Alliance (ISA). He also stated that both sides had decided to establish the India-Canada Defence Dialogue to enhance defence industries, maritime domain awareness, and military exchanges. Also significant was the signing of the $2.5 billion uranium deal. Canada is one of the few countries that can supply uranium suitable for India’s civilian nuclear reactors. MEA officials said that Canada had done this earlier as well, but supply had slowed in 2023 as ties came under diplomatic strain. Now both sides are once again looking at long-term contracts.
“Today, we discussed transforming this vision into a next-level partnership. Our goal is to reach $50 billion in trade by 2030. Unlocking the full potential of economic cooperation is our priority. Therefore, we have decided to finalise the Comprehensive Economic Partnership Agreement soon. This will create new investment and employment opportunities in both countries,” he said.
Canadian Prime Minister Mark Carney said that there has been more engagement between the Canadian and Indian governments in the last year than there has been in more than two decades combined.
“This is not merely the renewal of a relationship. It is the expansion of a valued partnership with new ambition, focus, and foresight. A partnership between two confident countries charting our own course for the future,” Carney said.
Speaking later at a special briefing, Secretary East P. Kumaran said Prime Minister Carney had “consolidated normalisation, restored strategic direction, institutionalised economic and strategic dialogues, and positioned the partnership towards long-term expansion.”
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Asked about the recent events in West Asia, Kumaran read out a statement on behalf of the Prime Minister. “India is deeply concerned about the recent developments in Iran and the Gulf region in general. We have urged all sides to exercise restraint, avoid escalation, and prioritise the safety of civilians,” he said. “Dialogue and diplomacy should be pursued to de-escalate tensions and address the underlying issues. The sovereignty and territorial integrity of all states must be respected.”
The India-Canada relationship had come under strain after former prime minister Justin Trudeau publicly accused New Delhi of masterminding the killing of Canadian citizen Hardeep Singh Nijjar in 2023. Trudeau’s accusation led to a downgrading of the relationship, with both sides expelling several diplomats from each other’s countries, including the High Commissioners.
