India and Canada Forge Economic Ties, Target $50 Billion Trade Goal

Prime Minister Narendra Modi and Canadian PM Mark Carney strengthen economic ties, aiming to reach $50 billion in trade by 2030. They plan to finalize a comprehensive economic partnership agreement, opening new investment opportunities. The meeting marked a significant step in enhancing bilateral relations.

Prime Minister Narendra Modi praised the development of India's relations with Canada under the leadership of Canadian Prime Minister Mark J Carney. Modi announced a shared goal of boosting economic cooperation, aiming to achieve $50 billion in trade by 2030. The leaders plan on finalizing a comprehensive economic partnership agreement imminently.

Addressing a joint press event in New Delhi, Modi emphasized that enhancing economic ties is pivotal, with hopes to unlock vast potential in investments and employment opportunities. Citing a $100 billion investment from Canadian pension funds in India, Modi noted the mutual trust in India's growth prospects.

Carney's visit to India marked a milestone in bilateral ties. The two nations exchanged several MoUs underlining democratic values and shared visions. Carney's official visit reinforces the foundation for strategic and economic collaboration, focusing on mutual interests. External Affairs Minister S Jaishankar also recognized Carney's commitment to advancing this forward-looking partnership.

(With inputs from agencies.)