A view of Canada's capital Ottawa.
Critical Minerals, Clean Energy Lead India–Canada Reset
New Delhi: India and Canada signalled a deliberate rebuilding of economic engagement on Thursday, November 13, 2025, as Commerce Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development Maninder Sidhu concluded the seventh Ministerial Dialogue on Trade and Investment with a detailed joint statement outlining specific priorities for renewed cooperation after two years of strained ties.
The joint statement reaffirmed the “strength and continuity” of the partnership and recorded the strongest commitment so far to restore structured dialogue. It noted that bilateral trade in goods and services had reached USD 23.66 billion in 2024 and that merchandise trade—at USD 8.98 billion—had expanded by 10 per cent over the previous year. Both sides welcomed steady investment flows, acknowledging that Canadian institutional investors continue to hold a significant presence in Indian infrastructure and clean-energy assets, while Indian companies maintain an expanding footprint in Canada’s technology and services sectors.
Also read: India, Canada Restart Trade Push After Diplomatic Reset
The statement underlined two areas where both governments see the highest immediate potential: long-term supply-chain partnerships in critical minerals and clean-energy collaboration essential for energy transition, and deeper industrial cooperation in aerospace and dual-use capabilities. These sectors will now undergo domain-specific discussions between agencies and private stakeholders from both countries.
The joint statement also recorded a shared concern about recent global supply-chain disruptions, with both ministers emphasising that agricultural supply chains and essential goods require diversified and reliable partners. The two sides agreed that strengthening resilience in these areas forms a crucial part of long-term economic stability.
In a forward-looking commitment, India and Canada agreed to sustain ministerial engagement with business communities in early 2026, and to maintain close communication as they consider next steps in the evolving trade relationship. The statement closed by acknowledging the constructive tone of the New Delhi discussions and the renewed momentum created by recent political-level engagements.
The reopening of this channel marks the most concrete economic step since diplomatic normalisation began earlier this year. The reset was triggered by the meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during the Group of Seven summit in Kananaskis, where both sides agreed to restore full diplomatic staffing and restart suspended consular operations. Foreign Minister Anita Anand’s subsequent October visit revived institutional mechanisms in trade, energy, education, and security, clearing the path for Thursday’s ministerial-level talks.
The latest dialogue also implicitly responds to the economic consequences of the earlier freeze. While neither government has publicly quantified the impact, officials and industry groups note that the breakdown in diplomatic functioning after the 2023 allegations made by the previous Canadian government led to delays in investment decisions, disruption of regulatory coordination, and suspension of several working-level negotiations. Exploratory discussions in critical minerals, clean energy, agri-innovation, and aviation had slowed, and planned business missions were either postponed or abandoned.
Since the change of government in Ottawa, both countries have moved to repair the damage. Canadian institutional investors, whose long-term commitments had remained stable but cautious, have resumed exploratory conversations in India’s renewable-energy corridors and logistics projects. Indian firms examining opportunities in Canada’s technology, aviation, and advanced-manufacturing sectors have also begun revisiting earlier proposals that were paused during the diplomatic chill.
Against this backdrop, Thursday’s joint statement serves as both a roadmap and a test of whether diplomatic goodwill can be translated into predictable commercial conditions. Officials on both sides acknowledge that rebuilding confidence will be gradual, but the restoration of ministerial dialogue after a prolonged silence marks a substantive shift toward stabilising a relationship that both governments believe remains economically complementary.
– global bihari bureau
