India and Canada Eye Collaboration on Clean Energy, Critical Minerals in Ongoing Trade Talks

India and Canada have signalled a renewed willingness to strengthen bilateral economic cooperation during the 7th Ministerial Dialogue on trade and Investment (MDTI) held in New Delhi. The meeting brought together Canada’s Minister of Export Promotion, International Trade and Economic Development, Maninder Sidhu, and India’s Commerce and Industry Minister, Piyush Goyal, to advance ongoing discussions on trade, investment, and future strategic partnerships.

Sidhu’s visit from November 11–14 aligns with the directives of both prime ministers, who earlier this year—during the G7 Summit in Kananaskis—agreed to enhance engagement between the two countries. The latest dialogue also builds on the October 13 joint statement issued by both nations’ foreign ministers, which identified trade as a central pillar of the India-Canada economic relationship.

The ministers acknowledged the steady growth in bilateral trade, which climbed to USD 23.66 billion in 2024. Merchandise trade alone accounted for USD 8.98 billion, marking a notable 10% rise compared to the previous year—a reflection of strengthening commercial ties despite global economic uncertainties.

Both officials also highlighted the continuing surge in two-way investments. Significant Canadian institutional investments in India and a rising number of Indian companies establishing operations in Canada are generating employment and driving innovation in both economies.

Reaffirming their commitment to maintaining a transparent, predictable investment environment, the ministers identified key priority sectors for future collaboration. These include enhanced cooperation in aviation and dual-use technology, building on Canada’s long-standing operations in India and the rapid expansion of India’s aviation industry.

Long-term partnerships in critical minerals and clean energy emerged as central to the discussions—areas vital for future industrial development and for reducing vulnerabilities in global supply chains. Both sides emphasized that sustainable, secure access to these resources will be crucial in the decades ahead.

The ministers also underscored the urgency of reinforcing resilient, diversified supply chains, especially in agriculture, amid persistent disruptions in global logistics and trade flows. Strengthening food security and supply stability remains a shared priority.

Expressing appreciation for the progress achieved so far, India and Canada committed to sustaining the momentum and deepening engagement in the months ahead. Both nations agreed to continue minister-level interactions with key stakeholders in early 2026, reaffirming the importance of strong people-to-people ties and meaningful commercial cooperation.

The dialogue concluded with both leaders recognizing the constructive nature of the discussions and expressing their resolve to remain closely aligned as they pursue upcoming trade and investment initiatives.