Union Commerce Minister Piyush Goyal on Monday referred to the recent meeting between Prime Minister Narendra Modi and his Canadian counterpart Mark Carney on the sidelines of the G-20 summit, stressing that the two leaders agreed to start negotiations on a highly-ambitious Comprehensive Economic Partnership Agreement (CEPA) and double bilateral trade by 2030. Speaking at the annual national conference of the Indo-Canadian Business Chamber in the national capital, Piyush Goyal said CEPA reflects the trust between the two countries, strengthens investor confidence and provides a strong framework to resolve issues on the basis of mutual respect.
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Goyal said India sees great potential for cooperation with Canada in critical minerals, mineral processing technologies, clean energy, nuclear energy and supply-chain diversification. He further said that India offers strong advantages in emerging technologies such as artificial intelligence, quantum computing, machine learning and next-generation data centres, supported by the world’s largest annual STEM graduates. He said Canada and India are natural partners, whose complementary strengths create significant opportunities for businesses and investors in both countries.
He further said that the India-Canada partnership is based on mutual trust, democratic values ​​and a shared commitment to development. He stressed that bilateral relations remain strong and stable, with ever-growing engagement in trade, investment and emerging sectors. Goyal emphasized that India’s national power grid, which has a capacity of 500 GW, including 250 GW of clean energy, provides the flexibility needed for AI-powered infrastructure. He said India’s ambition to double clean energy capacity to 500 GW by 2030 positions it as a reliable and sustainable partner, and India is one of the few democracies capable of providing real clean energy 24 hours a day at globally competitive rates.
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Referring to the seventh ministerial dialogue held with Canada’s International Trade Minister earlier this month, Goyal said both sides agreed to reinvigorate business-to-business ties and explore the possibility of two-way trade delegations. He appreciated the continued flow of Canadian investments into India, especially through Canadian pension funds, and noted the growing interest of Canadian companies in expanding operations in the country. Goyal also highlighted India’s strong economic infrastructure and said the country has moved from the “fragile five” to being among the top five economies of the world.
