Canadian International Trade Minister Maninder Sidhu said Canada wants to play a greater role in India’s economic expansion, with energy, critical minerals, aerospace, investment and research emerging as key areas of potential cooperation. His comments came as India and Canada prepare for the fifth round of negotiations on a trade agreement.
Milwaukee, Oct 1: Canada is seeking to deepen its economic partnership with India as the Indian economy expands, with energy, critical minerals, aerospace, investment and research emerging as key areas of potential cooperation, Canadian International Trade Minister Maninder Sidhu said on Thursday.
Speaking to reporters on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee, Sidhu said India’s growing energy requirements and its efforts to diversify supply chains could create significant opportunities for Canadian businesses and investors.
“India is growing at 7 per cent year over year. India requires 70 per cent more energy by 2035. We have that energy in Canada,” Sidhu said.
He highlighted Canada’s expanding liquefied natural gas (LNG) sector, saying the country was developing several projects that could significantly increase its export capacity over the coming years.
“We have over a handful of LNG projects in various phases of development. Meaning within the next five years, we'll be a top five exporter of LNG,” the minister said.
However, Sidhu stressed that the scope of the potential India-Canada economic partnership extended well beyond energy.
“It’s about critical minerals with India; it’s about aerospace. So as India builds, Canada wants to be there to help build India as well,” he said.
Sidhu had visited India around 10 days earlier and met Commerce and Industry Minister Piyush Goyal in Mumbai. The two countries are currently negotiating a trade agreement, with the fifth round of talks scheduled to begin in Ottawa on Monday.
The Canadian minister declined to provide details of the ongoing negotiations, stressing that sensitive issues would be addressed through official channels rather than through public statements.
“Well, negotiations are ongoing, so I'll be very careful how far I go. I think it's very clear that we don't negotiate through media,” he said.
Instead, Sidhu outlined areas where Canada sees scope for greater economic collaboration with India.
“It’s about collaboration. It’s about cooperation. Where can we help India?” he said.
Critical minerals, he suggested, could become a particularly important component of the partnership as India expands its automobile sector and develops electric vehicles, batteries and related supply chains.
“India’s looking to diversify some of the supply chains if you look at critical minerals,” Sidhu said.
He pointed to Canada’s mineral resources and capabilities as an area where the country could contribute to India’s efforts to build more resilient supply chains.
“India has a growing auto sector and for EVs and batteries, Canada is the only country in the Western hemisphere that has every single element to make an electric battery. And so there is something that we can add,” he said.
Sidhu also highlighted investment opportunities between the two countries. He said a recent investment summit in Toronto attracted Indian investors as well as around 100 asset managers collectively managing approximately USD 130 trillion in assets.
According to the minister, the summit generated commitments worth around USD 500 billion, creating potential opportunities for businesses and investors in both countries.
“So we have a lot of projects that we can work on together,” Sidhu said, listing energy, critical minerals and aerospace among the key sectors.
He also encouraged Indian companies to invest directly in Canada, particularly in mining and energy projects.
“We also welcome Indian investors in Canada to invest in our mining projects, to invest in our energy projects, so we can grow together,” he said.
Sidhu said the economic relationship should not be limited to the exchange of goods and services. He pointed to investment, research and technological collaboration as additional areas that could strengthen bilateral ties.
“And so part of that is, yes, it’s trade, but it’s investments and beyond that in terms of research and collaboration as well,” he said.
The comments come as India and Canada work to expand economic engagement alongside renewed high-level political contacts. The ongoing trade negotiations are aimed at addressing market access and strengthening investment and commercial ties between the two countries.
For Canada, India’s expanding economy presents opportunities across multiple sectors, while India could benefit from Canadian energy supplies, critical minerals, investment and technological capabilities. The next round of trade talks in Ottawa is expected to provide another opportunity for both sides to discuss the framework for expanding their economic partnership.
