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

Canadian Trade Minister Maninder Sidhu expressed optimism about wrapping up economic partnership talks with India by the end of the year. Prime Minister Mark Carney had previously set this goal during a visit to New Delhi in March. Sidhu spoke to Reuters during a recent trip to Mumbai, the financial hub of India.

He stated that he feels very optimistic about reaching a deal in the coming months. Indian negotiators are expected to visit Canada soon, and leaders from both nations are likely to meet on the sidelines of the G-20 summit in December.

The energy sector is a key area of focus. Canada, home to a Shell-led LNG export facility that began operations last year, has five additional projects in various stages of development. Sidhu mentioned ongoing discussions with Indian firms about potential investments and supply chain access.

Beyond LNG, both countries aim to bolster cooperation in nuclear energy, where India plans to significantly expand its capacity. Canada's strong nuclear industry could provide valuable support in building this supply chain, Sidhu noted.

Sidhu also revealed that several major Indian businesses, including Reliance Industries, Mahindra and Mahindra, and the JSW Group, are exploring investments in critical mineral projects in Canada. This follows the trend of supply chains becoming more weaponized, he added.