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.
Facts:
- 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 and education.
- The two-way trade between both countries has increased from US $3.21 billion in 2010 to US $6.05 billion approximately in 2016
- The cumulative Indian FDI was US$ 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 Benefits
- India is importing uranium from Canada since 2015.
- Canada has ample reserves of oil and gas. Thus being a 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