India’s Goyal to visit Canada with 150 business leaders to boost trade ties


NEW DELHI, May 23 (Reuters) – India’s Trade Minister Piyush Goyal will visit Canada between May 25 and May ‌27, heading a delegation of about 150 Indian industry ‌leaders as part of efforts to strengthen trade and investment ties between ​the two countries.

Goyal told a news briefing on Saturday that the delegation would hold meetings with Canadian ministers, business leaders and industry groups in Ottawa and Toronto.

• India and Canada have ‌been seeking to revive ⁠economic engagement after diplomatic tensions slowed bilateral trade talks.

• India expects to sign a free ⁠trade agreement with Canada covering sectors such as energy and critical minerals, while creating opportunities for Indian textile and leather companies, ​Goyal said.

• ​During Prime Minister Mark Carney’s ​visit to New Delhi ‌in March, both countries agreed to finalise the terms of reference for negotiating a comprehensive economic partnership agreement.

• Goyal said discussions during the trip would focus on cooperation in technology, food processing, clean energy and critical minerals.

• Canadian pension funds ‌and companies have invested nearly $100 billion ​in India and about 600 Canadian ​companies operate in India, ​with both sides aiming to raise that ‌number to 1,000, Goyal said.

• India ​and Canada ​aim to reach $50 billion in bilateral trade over the next five years and increase Canadian investment, he said.

• Both ​countries have renewed ‌discussions on a broader trade deal and maintain ​strong ties in agriculture, energy, education and technology.

(Reporting by ​Manoj KumarEditing by Tomasz Janowski)



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