India and Canada Aim for $50 Billion Trade by 2030: PM Modi Invites Canadian PM to New Delhi
Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney recently met during the G20 Summit in Johannesburg to discuss strengthening ties between India and Canada. Both leaders highlighted the growing partnership and agreed to work together in many important areas.
Key Points from the Meeting:
Trade and Investment: India and Canada have set a goal to increase their bilateral trade to $50 billion by 2030. Canadian pension funds are showing strong interest in investing in Indian companies.
Technology and Innovation: The two countries will boost cooperation in technology, innovation, and critical sectors like AI, nuclear energy, and supply chain diversification. They also welcomed the Australia-Canada-India Technology and Innovation (ACITI) Partnership to support trilateral collaboration.
Defence and Space: Both leaders agreed to explore deeper cooperation in defence and space sectors.
Education and Energy: Discussions included expanding ties in education and energy, including civil nuclear cooperation and long-term uranium supply.
AI Summit Support: Prime Minister Carney expressed support for the AI Summit that India will host in February 2026.
Future Plans: The leaders agreed to start talks on a Comprehensive Economic Partnership Agreement (CEPA) to double trade by 2030. They also emphasized the importance of regular high-level meetings and cooperation.
Prime Minister Modi invited Prime Minister Carney to visit India soon to continue strengthening the partnership.
