Canada optimistic about concluding trade talks with India by year-end, minister says

MUMBAI, Sep 19 - Canada remains confident of wrapping up comprehensive economic partnership talks with India by the end of this year, according to the country's international trade minister. Canadian Prime Minister Mark Carney had previously expressed confidence during a visit to New Delhi in March that the two nations would strike a free trade agreement by year-end.

Canadian Trade Minister Maninder Sidhu expressed optimism during an interview in Mumbai, stating that he is "very, very optimistic and energetic" about achieving the goal.

Indian trade representatives are anticipated to arrive in Canada next month, and leaders from both countries are expected to meet during the G-20 summit in December. The energy sector is a key focus of the negotiations, with Canada boasting five liquefied natural gas (LNG) projects, one of which was launched by a Shell-led consortium last year. Sidhu mentioned ongoing discussions with Indian firms to facilitate their participation in these projects and secure supply, without disclosing further specifics.

The two countries also aim to bolster cooperation in nuclear energy, as India seeks to significantly increase its capacity. Canada has a well-established nuclear industry, and Sidhu sees potential for Canadian companies to contribute to the development of a supply chain in India. Additionally, several major Indian businesses, including Reliance Industries, Mahindra and Mahindra, and the JSW Group, are exploring investments in Canadian critical mineral projects to secure their supply chains, as supply chains face increasing weaponization.