AI Generated Summary
- ” After the Toronto event, India’s consulate highlighted that Wilshaw and Singh offered “key insights on strengthening this vital economic corridor,” building on the recent meeting between Prime Ministers Narendra Modi and Mark Carney on the sidelines of last month’s G7 summit in Kananaskis.
- India and Canada are signaling a renewed push to strengthen their trade and investment ties, with business leaders and government officials from both sides engaging in a series of high-level discussions over the past two weeks.
- ICBC’s Chief Executive Officer Nadira Hamid described the current phase as a “positive time” for bilateral trade, with both governments “poised to enter a new phase in the relationship.
India and Canada are signaling a renewed push to strengthen their trade and investment ties, with business leaders and government officials from both sides engaging in a series of high-level discussions over the past two weeks.
The Indo-Canadian Business Chamber (ICBC) has taken the lead in convening these talks, hosting closed-door roundtables in Toronto and Ottawa aimed at resetting economic relations after a period of turbulence.
The most recent dialogue, held in Toronto on Wednesday, brought together Sara Wilshaw, Canada’s Chief Trade Commissioner and Assistant Deputy Minister at Global Affairs Canada (GAC), and Kapidhwaja Pratap Singh, India’s Acting Consul General in Toronto. A similar session in Ottawa last week featured Marie-Louise Hannan, GAC’s Director General for South Asia, and Chinmoy Naik, India’s Acting High Commissioner to Canada. Also participating in both events was Ajay Bisaria, India’s former High Commissioner to Ottawa, underscoring the importance attached to these initiatives.
“There is cautious optimism,” Bisaria remarked, noting that what had been “a headwind for businesses for the last two years has become a tailwind.”
A Positive Shift in Economic Momentum
ICBC’s Chief Executive Officer Nadira Hamid described the current phase as a “positive time” for bilateral trade, with both governments “poised to enter a new phase in the relationship.” She stressed, however, the importance of maintaining this momentum: “We need to continue taking steps to go in the right direction.”
The business chamber sees these meetings as just the beginning. Hamid referred to them as “round one” of a larger series of advocacy events planned for late 2025 and early next year.
Following the Ottawa meeting, India’s High Commission emphasized Naik’s call for “deepening India-Canada commercial & investment relations.” After the Toronto event, India’s consulate highlighted that Wilshaw and Singh offered “key insights on strengthening this vital economic corridor,” building on the recent meeting between Prime Ministers Narendra Modi and Mark Carney on the sidelines of last month’s G7 summit in Kananaskis.
Key Sectors and Strategic Focus Areas
According to Hamid, future collaboration will likely center on high-potential sectors, including agri-tech, artificial intelligence, liquefied natural gas (LNG), critical minerals, and auto parts.
Education partnerships, particularly in innovation and technology, were also identified as priority areas. Hamid noted growing interest among Indian companies in expanding their footprint in Canada and suggested that Canada consider introducing e-visas for business visitors, similar to those issued by India.
Building on Recent Engagements
These developments come on the heels of a visit by GAC’s Assistant Deputy Minister for the Indo-Pacific, Weldon Epp, to India earlier this month. During his trip to New Delhi and Mumbai, Epp met with Canadian institutional investors, including pension funds, to explore greater participation in India’s growing markets.
As Hamid summed up, “The goal now is to focus on sectors that matter to both governments, build trust, and make sure this momentum carries on.”
