Commerce Minister Piyush Goyal says India and Canada share strong economic complementarity and vast growth potential….reports Asian Lite News Desk
Union Commerce and Industry Minister Piyush Goyal has called for deeper economic engagement between India and Canada, describing the two countries as trusted democratic partners with strong potential to expand bilateral trade and investment ties.
Speaking at the opening Ministerial Plenary Session titled “From Political Reset to Commercial Delivery” in Toronto alongside Canadian Minister of International Trade Maninder Sidhu, Goyal said both countries shared “tremendous complementarity” and significant opportunities for future growth.
“We see tremendous complementarity between our two economies. We see tremendous possibilities in taking this relationship to the next level,” Goyal said.
Highlighting New Delhi’s intent to revive commercial momentum with Ottawa, the minister said India had sent its “largest ever delegation to leave the shores of India” to Toronto for the business engagement.
Opening his remarks with greetings in multiple Indian languages, Goyal said diversity remained a defining feature of the India Canada relationship.
“Diversity defines the Canada India partnership,” he said, adding that the relationship reflected how “the people of these two very consequential and important economies and businesses, vibrant democracies, trust each other, believe in each other, wish to engage with each other.”
Goyal said the partnership was rooted in democratic institutions, rule of law, and mutual confidence between governments, businesses, and people.
“The strong roots in our two democracies, where we believe very powerful institutions uphold the rule of law,” remain the core strength of the relationship, he said.
Referring to recent strains in bilateral ties, Goyal stressed the importance of long term engagement and trust building, using a personal analogy to underline the need for stronger cooperation.
“We may have a few misunderstandings, we may have a few disagreements, but marriages are forever. Marriages are to be nurtured, so are relationships, so are friendships, so are partnerships,” he said.
The minister said the two day business event should send “a message of mutual respect, a message of trust, a message of friendship.”
Goyal also highlighted the broad representation in the Indian delegation, saying it included participants from multiple sectors, chambers and regions across India.
Drawing a comparison between the commercial centres of the two countries, he said: “I come from Mumbai. It’s the financial and commercial capital of India, probably like Toronto.”
In a post on X after the session, Goyal invited Canadian businesses and industry leaders to become “active participants in India’s growth story.” He also said the proposed Comprehensive Economic Partnership Agreement, or CEPA, would serve as a “key catalyst” in expanding bilateral trade and investment ties.
India and Canada have major economic interests in sectors including energy, technology, education, agriculture and critical minerals. Negotiations on a broader trade agreement, including CEPA, had advanced through several rounds before slowing amid diplomatic tensions between the two countries.
