INSIGHTS
- The Canada-India CEO Forum will be revised and relaunched with a new set of goals, both parties decided during the most recent India-Canada Ministerial Dialogue on Trade and Investment in Ottawa.
- They placed a focus on fostering collaboration in clean technologies for the advancement of renewable energy and infrastructure.
- In October, a trade mission from Team Canada will travel to India.
India and Canada recently decided to revamp and reinstated the Canada-India CEO Forum with a fresh emphasis and an agenda of priorities, and in October of this year, a Team Canada exports mission is headed to India under the leadership of Mary Ng, minister of international trade, export promotion, small business, and economic development.
The decision was made on May 8 in Ottawa, Canada, during the sixth India-Canada Ministerial Dialogue on Trade and Investment (MDTI), which was co-chaired by Indian Minister of Commerce and Industry Piyush Goyal and Ng.
According to a press release, the ministers talked about the best ways to discuss talent and innovation partnerships in order to build the bilateral innovation ecosystem.
They placed a strong focus on fostering collaboration in fields including clean technology for the development of infrastructure, vital minerals, electric automobiles and batteries and more sustainable energy/hydrogen, and intelligent machines.
Ng emphasized her support for both the goals that India is pursuing in the G20 Trade and Investment Working Group and for India’s role as the G20 Chair. In August of this year, India will host the G-20 Trade and Investment Ministerial Summit.
They reiterated that the early progress trade agreement (EPTA) would cover high-level commitments in commodities, investments, services, rules of origin, sanitary and phytosanitary initiatives, technical hurdles to trade, and dispute resolution while reviewing the results of seven rounds of negotiations for the proposed bilaterally free trade agreement.
A 25% increase over 2021 saw bilateral commerce in products between India and Canada reach $8.2 billion in 2022.
By- Mansi Suryawanshi
