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Canada-India bilateral trade, which currently stands at $7.97 billion, has the potential to grow further.
According to Canadian Minister of Infrastructure and Communities Amarjeet Sohi, the areas of co-operation between the two countries could be in infrastructure, construction, waste water management and education among others.
“We see a lot of potential to grow bilateral trade between India and Canada. We want to convey that Canada is open to investments,” Sohi told newspersons at an interactive session on Indo-Canadian bilateral trade relations organised by the Indian Chamber of Commerce here on Monday.
As per data available from the Ministry of External Affairs, major items of India’s exports to Canada include gems, jewellery and precious stones, pharmaceutical products, readymade garments, textiles, organic chemicals, light engineering goods and iron and steel articles.
India’s import from Canada include pulses, newsprint, wood pulp, asbestos, potash, iron scrap, copper, minerals and industrial chemicals.
Canada will be investing close to $143.44 billion over the next 10 years for creating new infrastructure in public transportation system, trade and transportation corridors, airports, ports, oil and gas, mining and natural resources.
“This will provide a huge opportunity for Canadian and Indian companies,” he said.
Canadian PM’s visit
Sohi is a Minister in Canadian Prime Minister Justin Trudeau’s Cabinet, who is on a week-long official trip to India from February 17-23. The Canadian PM will visit Amritsar, Agra, Ahmedabad, Mumbai and Delhi.
Trudeau, accompanied by a business delegation representing prominent companies from Canada, is scheduled to address two business forums in Mumbai and Delhi.
Tariff hike on pulses
When asked about Delhi’s move to hike tariff on pulses imports, he said that discussions were on to resolve the issue.
India, which accounts for nearly 48 per cent of the world pulses consumption, is a major importer of pulses from the US and Canada.
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