Finance
Union Minister of Commerce and Industry, Shri Piyush Goyal, and the Minister of Export Promotion, International Trade and Economic Development of Canada, Maninder Sidhu, co-chaired the 7th India–Canada Ministerial Dialogue on Trade and Investment (MDTI) in New Delhi today. The meeting marked a renewed phase of engagement aimed at reinvigorating bilateral trade and investment ties and setting a forward-looking agenda for cooperation, in line with the Joint Statement, “Renewing Momentum towards a Stronger Partnership” of 13th October 2025, which identified trade as the cornerstone of bilateral economic growth and resilience.
The Ministers reaffirmed the enduring strength of the India–Canada relationship, anchored in shared democratic values, cultural diversity, and growing economic complementarities. They highlighted the vital role of the vibrant Indian diaspora of nearly 2.9 million and over 427,000 Indian students in Canada, whose contributions continue to enrich both societies and serve as a bridge fostering deeper understanding, innovation, and economic collaboration.
Bilateral trade in goods and services between India and Canada stood at USD 18.38 billion in 2023. The Ministers welcomed the steady rise in two-way investments, and reaffirmed their commitment to fostering an open, transparent, and predictable business environment that supports sustainable and inclusive growth.
The Ministerial Dialogue covered a wide-ranging agenda encompassing key areas of economic cooperation. Discussions focused on strengthening bilateral economic ties and advancing sectoral collaboration across priority domains, including nutritional security, supply chain resilience, health sector cooperation, and investment facilitation. The Ministers also reviewed recent trade policy developments, covering trade in goods and services, and exchanged views to enhance market access, promote regulatory alignment, and support long-term economic resilience.
Concluding the dialogue, the Ministers reaffirmed their shared vision to renew and revitalize the India–Canada economic partnership, grounded in mutual respect, trust, and a spirit of collaboration. They agreed to translate today’s constructive discussions into tangible outcomes that advance shared prosperity and reflect the depth and dynamism, to define India–Canada relations.
Source: PIB
