Canada Optimistic About Finalizing Trade Deal With India by Year-End

According to the International Desk of Webangah News Agency, Canada is expressing strong optimism regarding the finalization of its trade agreement with India by the close of this year. Minister of International Trade, Mary Ng, stated on Saturday that the two countries are on track to reach a comprehensive free trade agreement. Speaking to Reuters in Mumbai, Ng conveyed her optimism and energy for concluding the deal in the coming months. This follows earlier remarks by Canadian Prime Minister Justin Trudeau during his visit to New Delhi in March, where he indicated the intention to finalize a free trade agreement by year-end.

Trade negotiators from India are scheduled to visit Canada next month. There is also a possibility of a meeting between the leaders of both nations on the sidelines of the G20 summit in December. Energy is identified as a primary focus of the ongoing negotiations. Canada launched a liquefied natural gas export facility last year in partnership with Shell, with five additional projects currently in various stages of development. Minister Ng indicated that Canada is engaging with Indian companies concerning access to these projects, investment opportunities, and supply guarantees.

Furthermore, both countries are exploring avenues to enhance collaboration in the nuclear energy sector. India has ambitious plans to significantly increase its nuclear power generation capacity, while Canada seeks to involve its companies in developing the supply chain for this industry within India. Additionally, several major Indian corporations, including Reliance Industries, Mahindra, and the JSW Group, are reportedly considering investments in critical mineral projects in Canada as a strategic move to bolster their respective supply chains.