Bilateral Trade Hits $23.66 Billion; Focus Shifts to Critical Minerals and Aerospace Cooperation
NEW DELHI: India and Canada have successfully concluded the 7th Ministerial Dialogue on Trade and Investment (MDTI) in New Delhi, reaffirming their commitment to accelerating their economic partnership. The dialogue, held between India’s Minister for Commerce and Industry, Shri Piyush Goyal, and Canada’s Minister of Export Promotion, International Trade and Economic Development, the Honourable Maninder Sidhu, built upon directives from the two nations’ Prime Ministers and Foreign Ministers.
Minister Sidhu was on an official visit to India from November 11 to 14, 2025.
The Ministers noted the robust growth in bilateral trade, which reached US$23.66 billion in 2024. Merchandise trade alone stood at nearly US$8.98 billion, representing a substantial 10% increase over the previous year.
Both sides emphasized the strength and resilience of the India–Canada economic partnership. They highlighted the steady expansion of two-way investment flows, including significant Canadian institutional investment in India and the growing footprint of Indian firms in Canada, collectively supporting thousands of jobs in both countries. The Ministers committed to maintaining a stable, transparent investment environment to unlock further private sector opportunities.
Recognizing strong complementarities, the Ministers identified several strategic areas for deeper domain-level engagement to drive sustainable growth and innovation.
Critical Minerals and Clean Energy: The two countries agreed to encourage long-term supply chain partnerships in critical minerals and enhance collaboration in clean energy, which are deemed essential for the global energy transition and new-age industrial expansion.
Aerospace and Dual-Use Capabilities: India and Canada will seek to expand investment and trading opportunities in the aerospace sector, leveraging Canada’s established presence and the rapid growth of India’s aviation sector, including dual-use capabilities partnerships.
The dialogue also addressed global developments, including lessons learned from recent disruptions, with both Ministers underscoring the relevance of strengthening supply chain resilience. They highlighted the need for diversified and reliable supply chains, particularly in critical sectors like agriculture, as vital for supporting long-term economic stability.
Expressing satisfaction with the progress made, the Ministers reaffirmed their shared commitment to elevating the economic partnership to reflect global developments and evolving trade dynamics. They concluded the constructive discussions by agreeing to sustain ministerial engagements with the trade and investment communities in both countries early next year, further cementing the people-to-people ties that form the foundation of the partnership.