India, Canada Eye Big Partnerships in Minerals, Clean Energy and Tech
Photo Credit: @PiyushGoyalOffc
India has highlighted strong potential for deeper collaboration with Canada in critical minerals, clean energy and emerging technologies, as Union Commerce and Industry Minister Piyush Goyal addressed the Indo-Canadian Business Chamber in New Delhi. He said India sees major opportunities in working with Canada on mineral processing, nuclear energy and supply-chain diversification. Goyal added that India is rapidly advancing in areas such as artificial intelligence, quantum computing, machine learning and next-generation data centres, supported by one of the world’s largest pools of STEM graduates. He stressed that India and Canada are natural partners, with complementary strengths that can drive meaningful business and investment opportunities.
Goyal noted that India–Canada relations are built on trust, democratic values and a commitment to development. He recalled the recent meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during the G20 Summit, where both leaders agreed to fast-track negotiations for a high-ambition Comprehensive Economic Partnership Agreement (CEPA) and double bilateral trade by 2030. He said CEPA would boost investor confidence and create a transparent framework for addressing trade issues.
The Minister highlighted India’s robust power grid of 500 GW, including 250 GW from clean energy sources, which supports the country’s AI-driven digital infrastructure. With plans to double its clean energy capacity to 500 GW by 2030, India aims to become a reliable and sustainable global partner. Goyal also noted the continued flow of Canadian investments into India, especially through pension funds, and the growing interest of Canadian companies in sectors such as infrastructure, technology and services.
He underlined India’s strong economic fundamentals—low inflation, high foreign exchange reserves, a resilient banking sector and massive infrastructure expansion. India’s stock market, he said, has grown nearly four-and-a-half times in the past decade, reflecting rising investor confidence. Goyal added that India is on track to become the world’s third-largest economy within the next 2–2.5 years, powered by a young and skilled population and a development model based on stability, inclusivity and sustainability.
To strengthen India–Canada ties further, Goyal proposed a five-point strategy focused on converting discussions into measurable outcomes, revitalising the CEO Forum, promoting joint innovation, enhancing business delegations and identifying priority sectors for cooperation—including critical minerals, aerospace, defence, clean energy and manufacturing under Make in India. He invited Canadian businesses to partner in India’s journey towards becoming a developed nation by 2047 and expressed confidence that the bilateral partnership will continue to grow stronger.
Source: PIB
