INDIA –CANADA  RELATIONS

India-Canada share strategic partnership underpinned by shared values of democracy and pluralism. It has significantly expanded in recent years aided by heightened economic engagement, regular high level interactions and long-standing  people-to-people ties.

HIGHLIGHTS

• Indian diaspora comprising 3.6% of the Canadian population are well-educated, affluent and politically polished.
• During Indian Prime Minister Narendra Modi’s visit to Canada in April 2015, both sides agreed to elevate their bilateral relations to a strategic partnership.
• The bilateral ties fundamentally rest on 3Es —

-economy,

- energy

- education.

• India's bilateral trade with Canada grew from USD 1.09 billion in 2001 to USD 5.62 billion in 2016 
• Trade between India and Canada is expected to double to USD 10 billion in the next three years 
• Canada is the 23rd biggest investor in India, wherein it fuelled-in around USD 1.12 billion foreign direct investment (FDI) during the seventeen years period from 2000 to 2017 
   
• The investments are expected to fuel-in sectors like clean energy, agri-machinery, climate change, advanced manufacturing, agriculture equipments, agri-food, clean technology, digital industries, and health and bio-sciences 
• The two-way trade between both countries  increased from US $3.21 billion in 2010 to US $6.05 billion approximately in 2016
• Total exports can be increased to the level of USD 4 billion in the next three years by 2021 from the current level of USD 1.97 bn 
• The cumulative Indian FDI was US$ 2093.53 million as against Canadian FDI of US$ 901.1693 million in India.
• Indian companies have invested especially in the IT, software, steel and natural resources sectors etc.

MAJOR AREAS OF CO-OPERATION

• India is importing uranium from Canada since 2015.
• Canada has ample reserves of oil and gas. Thus being  potentially a key partner in India’s quest for energy security.
• Indian students have also initiated migration to Canada for vocational and higher education.
• In agricultural sector, Canadian pulses were being imported by India.
• Also both nations also have some collaboration in agri-tech.
• There is enough potential for stepping up cooperation in areas like information technology, science and technology, clean and green tech, aviation and outer space, cold-climate warfare, cybersecurity, counterterrorism and tourism.

The need of the hour is to strengthen mutual trust and confidence, by taking a long-term view of the relationship

Sources:

- economictimes.indiatimes.com

-diplomat.com