Minister of International Trade, Export Promotion, Small Business and Economic Development of Canada, Mary Ng will arrive in New Delhi tomorrow on a four day visit.
Ms Mary Ng and Commerce and Industry Minister Piyush Goyal will co-chair the 5th India – Canada Ministerial Dialogue on Trade and Investment MDTI. During the meeting various bilateral trade and investment issues will be discussed in order to further strengthen the bilateral ties and economic partnership including India-Canada Comprehensive Economic Partnership Agreement CEPA.
There has been a strong recovery in bilateral trade in 2021 after the fallout as a result of the COVID-19 pandemic, with bilateral trade in goods reaching 6.29 billion dollars registering a growth rate of 12 per cent as compared to the previous year. Total bilateral trade including goods and services crossed 11 billion dollars. In current financial year during April 2021 to January 2022, Indian exports to Canada have increased to approximately 3 billion dollars registering a growth of almost 25 per cent over the previous year.
Major Indian exports to Canada include drugs and pharmaceutical products, iron and steel products, marine products, cotton fabrics and readymade garments and chemicals etc, while key Canadian exports to India comprise pulses, fertilizers, coal and crude petroleum etc.