India, Canada Boost Collaboration on Critical Minerals and Clean Energy
New Delhi. India and Canada have reaffirmed their commitment to strengthening economic engagement, with a renewed focus on critical minerals, clean energy, and resilient supply chains.
The collaboration was discussed during the 7th Ministerial Dialogue on Trade and Investment (MDTI) held in here between Commerce and Industry Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development, Maninder Sidhu.
Sidhu’s 11–14 November visit followed guidance from the Prime Ministers of both the countries, who had earlier met at the G7 Summit and agreed to strengthen cooperation. The discussions also built on the October joint statement issued by the Foreign Ministers, which underlined trade as the cornerstone of India–Canada economic relations.
Both sides expressed satisfaction over the steady expansion in trade, with bilateral commerce touching USD 23.66 billion in 2024.
Merchandise trade grew to USD 8.98 billion, marking a 10 per cent increase from the previous year. Officials highlighted strong two-way investments, supported by major Canadian institutional participation in India and the increasing footprint of Indian companies in Canada.
The ministers emphasised the importance of an open, transparent, and predictable investment climate, and identified priority sectors for deeper collaboration. These include long-term partnerships in critical minerals and clean energy—areas that are vital for future industrial growth. The highlight is enhancing cooperation in aerospace and dual-use technologies, leveraging Canada’s established presence in India and India’s rapidly expanding aviation sector.
With global supply chains witnessing frequent disruptions, the leaders stressed the need for greater resilience, especially in agriculture. Both sides agreed on the importance of diversified and dependable supply chains to safeguard long-term economic stability.
India and Canada welcomed the progress achieved so far and committed to sustaining momentum in the months ahead. They also recognised the strength of people-to-people ties and agreed to continue high-level exchanges with trade and investment stakeholders early next year.
The meeting concluded on a positive note, with both ministers acknowledging the constructive dialogue and pledging to remain closely engaged on upcoming initiatives.
