Finance
Union Minister of Commerce and Industry Shri Piyush Goyal held a series of high-level meetings with senior Canadian business leaders and institutional investors in Toronto, Canada on Day 2 of his visit, aimed at deepening bilateral cooperation and promoting investments and technology partnerships across strategic sectors.
The day began with Shri Piyush Goyal delivering the keynote address at the Canada–India Building Bridges event hosted by Global Affairs Canada, CII, and ASSOCHAM at the World Trade Centre Toronto. The event witnessed participation from more than 150 representatives from businesses, investor groups, and industry associations across sectors including advanced manufacturing, pharmaceuticals and biotechnology, clean technology, energy, and oil and gas.
This was followed by a fireside chat between Shri Piyush Goyal and Canada’s Minister of International Trade Mr. Maninder Sidhu, during which Shri Goyal highlighted the growing complementarities between India and Canada and underscored the need for a more robust and predictable business ecosystem driven by stronger government-industry collaboration. Minister Sidhu expressed his commitment to building closer bilateral ties, appreciated the presence of the largest-ever Indian business delegation to Canada, and announced a Team Canada Trade Mission to India later this year in November. The proposed mission aims to bring Canadian companies to India to explore opportunities for collaboration across sectors such as artificial intelligence, critical minerals, nuclear energy, renewable energy, semiconductors, clean technology, digital infrastructure, and advanced manufacturing. Both sides reaffirmed their shared objective of expanding bilateral trade to USD 50 billion by 2030 and concluding the CEPA negotiations by the end of the year.
This was followed by the Canada–India Investment Roundtable, co-chaired by both Ministers. The roundtable was attended by leading Canadian financial investors, including pension funds and banks, along with senior government representatives from both India and Canada. Discussions focused on the Government of India’s continued emphasis on infrastructure development, financial sector reforms, and ease of doing business, which are creating significant opportunities for global investors. Shri Goyal invited stakeholders to partner with India in sectors such as clean energy, technology, digital infrastructure, artificial intelligence, manufacturing, and supply chain diversification, while also exploring avenues to deepen cooperation in financial markets to support sustainable growth and shared prosperity for both countries.
Shri Piyush Goyal also held one-on-one meetings with leading Canadian companies across sectors including insurance, food processing, banking, and critical minerals processing, as well as key financial investors. Discussions focused on their expanding interests in India and covered subjects including India’s macroeconomic outlook, the Government’s renewed focus on trade agreements over the past one and a half years, opportunities across high-growth sectors, the availability of STEM talent and the consequent rise of Global Capability Centres (GCCs), Production Linked Incentive (PLI) schemes encouraging strategic investments, and India’s continuously improving regulatory environment.
Shri Piyush Goyal visited the Kanishka Memorial at Humber Bay Park, where he laid a wreath, interacted with the families of the victims, and paid solemn homage to those who lost their lives in the Air India AI 182 terror attack.
The day concluded with a reception hosted by the Consulate General of India, Toronto at the Pearson Convention Centre in Brampton. Addressing members of the Indian diaspora, Shri Piyush Goyal underlined the strength of the Indian community in Canada and its important role in deepening the India–Canada business corridor. He also emphasised that the Indian diaspora has a vital role to play not only in expanding business and investment linkages with India, but also in promoting stronger cultural exchanges, community engagement, and the growth of Indian businesses across Canada.
Shri Goyal is leading the largest-ever Indian business delegation to Canada, comprising industry leaders from over 100 Indian companies, in a landmark step towards the full revival of India-Canada economic relations. The three-day visit, which commenced with key engagements in Ottawa on May 25, is aimed at advancing bilateral trade and economic ties between India and Canada, with a particular focus on accelerating the ongoing negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
Source: PIB
