New Delhi Hosts Key Economic Dialogue
New Delhi, India – India and Canada have reaffirmed their commitment to deepening economic cooperation, with a particular focus on critical minerals, clean energy, and aerospace. The agreement emerged from the 7th Ministerial Dialogue on Trade and Investment (MDTI), which took place in New Delhi from November 11 to 14, 2025. The dialogue was co-chaired by India's Minister for Commerce and Industry, Piyush Goyal, and Canada's Minister of Export Promotion, International Trade, and Economic Development, Maninder Sidhu.
A joint statement issued on November 14, 2025, highlighted the mutual desire to strengthen long-term supply chain partnerships in critical minerals and clean energy, which are deemed essential for energy transition and new-age industrial expansion. Both nations also committed to identifying and expanding investment and trading opportunities in aerospace and dual-use capabilities, leveraging Canada's established presence in India and the rapid growth of India's aviation sector.
Revitalizing Bilateral Relations
This latest ministerial engagement signifies a renewed momentum in India-Canada relations, which had experienced strains in recent years. The dialogue followed directions provided by the Prime Ministers of both countries during their bilateral meeting on the sidelines of the G7 meeting in Kananaskis, Canada, and built upon a joint statement by the Foreign Ministers on October 13, 2025, which identified trade as a cornerstone for bilateral economic growth and resilience.
Ministers Goyal and Sidhu emphasized the importance of sustained dialogue, mutual respect, and forward-looking initiatives to deepen the economic partnership.
Trade and Investment Growth
The ministers noted robust growth in bilateral trade, with goods and services reaching US$23.66 billion in 2024. Merchandise trade alone accounted for nearly US$8.98 billion, representing a substantial 10% increase over the previous year. They also welcomed the steady expansion of two-way investment flows, including significant Canadian institutional investment in India and the growing presence of Indian firms in Canada, which collectively support tens of thousands of jobs in both economies.
Both sides underscored the relevance of strengthening resilience in critical sectors, including agriculture, and highlighted the need for diversified and reliable supply chains to support long-term economic stability. They committed to maintaining an open, transparent, and predictable investment environment.
Future Engagements
The discussions also recognized strong complementarities between India and Canada across strategic sectors driving sustainable growth and innovation. The ministers agreed to hold sustained ministerial engagements with the trade and investment community in both countries early next year to further unlock new opportunities for trade and investment.
5 Comments
KittyKat
Critical minerals often means environmental exploitation. What's the cost?
Eugene Alta
While strengthening critical mineral supply chains is vital for clean energy, I hope there are strict environmental and ethical sourcing guidelines in place to prevent exploitation. We need sustainable practices.
BuggaBoom
Don't forget the recent diplomatic issues. Is this truly sustainable?
Donatello
Dual-use capabilities in aerospace? Sounds like a slippery slope.
ZmeeLove
Re-engaging in dialogue is a positive sign for international relations; however, the real test will be how consistently these agreements are implemented and sustained over time, beyond just ministerial meetings. Actions speak louder than words.