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Informist, Monday, Mar. 2, 2026

 

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--PM Modi: To finalise comprehensive econ partnership pact with Canada soon
--CONTEXT: PM Modi speaking post India-Canada meet
--PM Modi: Aim to have bilateral trade worth $50 bln with Canada by 2030
--Modi:Canada pension funds' invest $100 bln, not to invest $100 mln
--PM Modi: Terrorism, radicalism grave challenges for India, Canada
--PM Modi: To set up India-Canada defence dialogue
--PM Modi: India, Canada inked pact for long-term uranium supply
--PM Modi: India, Canada startups to work together on space sector

 

NEW DELHI – India and Canada target bilateral trade of $50 billion by 2030, and the two countries will soon finalise a comprehensive economic partnership agreement, Prime Minister Narendra Modi said Monday. "It is our priority to unlock full potential of economic cooperation. We discussed ways to transform our partnership to the next level," Modi said in a joint press conference with visiting Canadian Prime Minister Mark Carney.

 

Modi said the comprehensive economic partnership agreement will throw up new opportunities for investment and employment in both countries. He also noted that Canada's pension fund investing $100 billion in India shows its trust in India's growth story.

 

He said suggestions from business leaders of both countries will determine the roadmap of future bilateral financial partnership.

 

Modi announced the setting up of a defence dialogue with Canada. "We will work on increasing defence industries, maritime domain awareness, and military exchanges. For this purpose, today we have decided to establish India-Canada Defence Dialogue," he said.

 

"Canada is an important partner for India in the Indo-Pacific. We welcome their interest in becoming a Dialogue Partner of the Indian Ocean Rim Association. This will give new depth to our maritime cooperation," the prime minister added.

 

Modi said India and Canada are "natural partners" in technology and innovation, and the two countries will "turn ideas into global solutions". He also appreciated Canada's support in the artificial intelligence summit organised by India last month.

 

"Along with AI, we will also deepen cooperation in quantum (physics), supercomputing and semiconductors. The memorandum of understanding signed today on critical minerals will strengthen resilience supply chains," Modi said, adding that startups from both countries will be given openings in space sector.

 

"We are forging next generation partnership in energy sector. Along with hydrocarbons, the focus will be on renewable energy, green hydrogen and energy storage," he said. In civil nuclear energy, the two countries signed a "landmark deal" on long-term uranium supply, and will work together on small modular reactors and advanced reactors.

 

India is also going to organise India-Canada Renewable Energy and Storage Summit this year, Modi announced. The Indian prime minister stressed the need for close cooperation against terrorism, extremism, and radicalisation as these are "common and serious challenges not only for both countries but for all humanity". End

 

US$1 = INR 91.42

 

Reported by Asim Khan and Priyasmita Dutta

Edited by Ashish Shirke

 

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