India’s Commerce and Industry Minister Piyush Goyal held a series of high-level meetings with leading Canadian business executives and institutional investors in Toronto on the second day of his official visit to Canada, aimed at strengthening bilateral economic cooperation and attracting greater investments into India.
According to the Commerce and Industry Ministry, the discussions focused on enhancing trade, technology partnerships, and long-term investments across key strategic sectors as both countries seek to deepen economic engagement amid evolving global trade dynamics.
During the visit, Mr Goyal met Canada’s International Trade Minister Maninder Sidhu and reviewed the growing complementarities between the Indian and Canadian economies. Both leaders highlighted the importance of creating a more stable, predictable, and business-friendly ecosystem supported by stronger collaboration between governments and industry stakeholders.
The two ministers also reiterated their shared goal of expanding bilateral trade between India and Canada to 50 billion US dollars by 2030. They further expressed optimism about concluding negotiations for the Comprehensive Economic Partnership Agreement (CEPA) by the end of this year, a move expected to significantly boost trade and investment flows between the two nations.
A major highlight of the visit was the Canada-India Investment Roundtable, jointly chaired by the two ministers. The event brought together prominent Canadian pension funds, banks, financial investors, and senior government officials from both countries.
The roundtable discussions centred on India’s rapid infrastructure expansion, ongoing financial sector reforms, improving ease of doing business, and the wide range of opportunities available for global investors. Mr Goyal invited Canadian stakeholders to partner with India in sectors ranging from manufacturing and infrastructure to financial services and emerging technologies.
The minister also explored avenues for deeper cooperation in financial markets, emphasising the need for sustainable growth and mutually beneficial economic partnerships.
Following the roundtable, Mr Goyal held one-on-one meetings with executives from leading Canadian companies operating in sectors such as insurance, food processing, and financial services. The conversations focused on the companies’ growing interest in India and covered topics including India’s strong macroeconomic outlook, the availability of skilled STEM talent, and the rapid rise of Global Capability Centres (GCCs) in the country.
The discussions also highlighted India’s Production Linked Incentive (PLI) schemes, which are designed to encourage strategic manufacturing investments and enhance the country’s position as a global supply chain hub. Canadian business leaders were also briefed on reforms aimed at improving India’s regulatory environment and facilitating smoother business operations.
Addressing members of the Indian diaspora in Canada, Mr Goyal praised the contribution of the Indian community in strengthening the India-Canada economic corridor. He noted that the diaspora has played a vital role in expanding business and investment ties while also fostering stronger cultural and community engagement between the two nations.
He urged the Indian community to continue supporting the growth of Indian businesses across Canada and contribute to building deeper people-to-people and commercial connections between the two countries.
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