Strengthening Ties: India and Canada Unite for Economic Growth
India and Canada are in talks to boost collaboration in energy, technology, and food security, aiming to renew trade and investment ties. Despite past tensions, both nations seek mutual benefits through reduced customs duties and improved trade in services.
- Country:
- India
In a significant move to enhance bilateral relations, Commerce and Industry Minister Piyush Goyal announced discussions between India and Canada to explore collaboration in fields such as energy, technology, and food security. This initiative reflects India's readiness to bolster trade and investment ties with Canada.
The dialogue coincides with Canada's Foreign Affairs Minister Anita Anand's visit to New Delhi, marking an effort to rekindle economic negotiations that were previously halted. The discussions are crucial given the pause in free trade agreement talks in 2023 after diplomatic tensions.
The efforts to resume an interim trade pact, known as the Early Progress Trade Agreement, indicate a strategic commitment to reducing customs duties and promoting services and investments. The two countries have already held several negotiations, with renewed diplomatic vibrancy highlighted by Prime Minister Modi's discussions with Canadian leadership.
(With inputs from agencies.)
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