Canada has made $51.7bn portfolio-institutional investment in India to date
The Federation of Indian Chambers of Commerce & Industry (FICCI) and the Business Council of Canada (BCC) have called on their respective Governments to continue to work on an Early Progress Trade Agreement with the goal of successfully concluding negotiations by the end of the year.
“At a time of global volatility, it is crucial for democracies to work together to create jobs, secure supply chains and drive economic growth that sustains our quality of life and benefits all people,” he said in Toronto on 10 May 2023.
Canadian portfolio and institutional investment into India was currently valued at US$51.7 billion.
The Indian-Canadian bilateral trade amounted to US$6.8 billion for FY 2021-22. Canada exported US$3.1 billion worth of products to India and imported US$3.7 billion worth of products from India.
The two trade bodies have also announced a new partnership to connect business leaders from both countries, promote bilateral economic ties, and enhance co-operation as partners in the Indo-Pacific region.
The announcement was made at the conclusion of an India-Canada business leaders’ dialogue that was held with Canadian Trade Minister Mary Ng and Indian Commerce & Industry Minister Piyush Goyal in Toronto.
“India’s bilateral relationship with Canada holds great potential especially in areas like energy, science, biotechnology, pharmaceuticals, and infrastructure development,” said FICCI President Subhrakant Panda.
“I am confident that our partnership will not only bolster business-to-business ties between the two countries but also lift the trajectory of bilateral trade,” he added. fiinews.com
