Canadian Prime Minister Mark Carney is scheduled to visit New Delhi early in March as part of his ongoing efforts to strengthen Canada’s economic partnerships beyond the United States. Victor Fedeli, Ontario’s minister of economic development, job creation, and trade, confirmed this during a statement on Monday.
Carney’s trip comes amid Canada’s strategic shift towards diversifying its alliances away from the US, following President Donald Trump’s imposition of tariffs on Canadian goods. This move has put increased pressure on Canada to find new markets for its exports.
Canada-India relations have also been strained due to allegations that India was involved in the killing of a Sikh separatist leader by security forces, which the Indian government denied. However, Carney’s visit aims to reset this relationship and focus on opportunities for closer economic ties with India.
Fedeli, who will accompany Carney during his trip, highlighted Canada’s desire to double bilateral trade from $19 billion in 2018 to over $50 billion by 2030. This ambitious goal underscores the importance of strengthening ties with India and other emerging markets.
During their G20 meeting last November, Prime Minister Carney and Narendra Modi agreed on the need for increased trade and economic cooperation. Fedeli notes that this initiative will also help draw Indian companies to invest in Ontario, where Canadian-Indian trade has surged by 60% since 2018. Companies such as HCL Technologies, Paytm, and Tata Consultancy have established significant footprints in the province.
This visit not only marks a crucial step forward for Canada’s economic strategy but also serves as an opportunity to address lingering issues and explore new horizons for bilateral relations in the years ahead.