(MENAFN- KNN India) New Delhi, Nov 14 (KNN) India and Canada on Friday reaffirmed their commitment to strengthening economic engagement during the 7th Ministerial Dialogue on Trade and Investment (MDTI), co-chaired by Commerce and Industry Minister Piyush Goyal and Canadian Minister Maninder Sidhu.

The meeting marked continued efforts by both sides to renew momentum in bilateral relations and advance a forward-looking trade and investment agenda.

Bilateral trade remained resilient, reaching USD 23.66 billion in 2024, including merchandise trade of USD 8.98 billion, a 10 per cent increase over the previous year.

The ministers welcomed the steady rise in two-way investments, supported by economic complementarities and the presence of Canada's 2.9-million-strong Indian diaspora, including more than 427,000 students.

Discussions covered a wide range of priority areas, including supply chain resilience, nutritional security, health-sector cooperation and investment facilitation. Both sides reviewed recent trade policy developments and explored ways to improve market access and regulatory coordination.

The ministers agreed to strengthen long-term cooperation in critical minerals and clean energy, sectors seen as central to future industrial growth and the energy transition.

They stressed the importance of a stable and predictable investment climate and said regular engagement with industry would help create new opportunities. They also underscored the need for more diversified and resilient supply chains, including in agriculture.

Both sides also identified potential collaboration in aerospace and dual-use technologies, leveraging Canada's capabilities and India's expanding aviation ecosystem.

India and Canada agreed to maintain regular ministerial-level engagement with the trade and investment community next year to sustain momentum in the partnership.

Concluding the dialogue, both ministers expressed satisfaction with the constructive discussions and reaffirmed their commitment to advancing an economic partnership grounded in mutual trust and long-term cooperation.

(KNN Bureau)

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