Diversity, trust anchor Canada-India economic ties, says Piyush Goyal in Toronto

Union Commerce and Industry Minister Piyush Goyal asserted that "diversity defines the Canada-India partnership" during a business event in Toronto, emphasizing that deep trust between the two democracies is fostering new trade and investment opportunities. Speaking at the 'From Political Reset to Commercial Delivery' session, Goyal highlighted shared democratic values and institutional trust as the foundation of their strong bilateral ties.

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diversity defines the Canada-India partnership

"I compliment each and every one of you assembled here today who have joined with your message to the world that the people of these two very consequential and important economies, that businesses from both our vibrant democracies trust each other, believe in each other, wish to engage with each other for a bright and prosperous future," Goyal stated. He expressed a desire for increased people-to-people engagement, including more business travel and cultural exchanges, with government efforts focused on facilitating easier collaboration.

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I compliment each and every one of you assembled here today who have joined with your message to the world that the people of these two very consequential and important economies, that businesses from both our vibrant democracies trust each other, believe in each other, wish to engage with each other for a bright and prosperous future.

Canada's Minister of International Trade, Maninder Sidhu, welcomed Goyal, calling his presence a milestone and commending the "phenomenal job" in bringing one of the largest Indian business delegations to Canada. Sidhu acknowledged the current global economic landscape, marked by shifting supply chains and market instability. "In the middle of all that, Canada made a deliberate choice that we are not going to sit around and wait...We are going to lead," he said.

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We are proud, Mr Goyal. What a phenomenal job that you have done. I am talking about bringing one of the largest delegations from India to Canada in history.

Goyal further underscored that the partnership is built on "strong roots in our two democracies," where the rule of law is upheld and friends and partners demonstrate effective collaboration. He expressed confidence that the ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA) will result in a "very good, fair, equitable, and balanced" pact, which will serve as a roadmap for the economic advancement of both nations. The agreement aims to reduce trade barriers and tariffs, thereby opening up significant investment opportunities.

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The world is being reshaped, supply chains are shifting, all the functions are breaking down. Markets that used to feel stable are proving anything but. In the middle of all that, Canada made a deliberate choice that we are not going to sit around and wait...We are going to lead.