Canada keen to deepen partnerships with Karnataka quantum computing, AI, aerospace and defence: Trade Minister Maninder Sidhu
Mr. Sidhu, who was in the city as part of a high-level Canadian trade mission to India, said Canada and India had complementary economic strengths and were well positioned to build stronger partnerships at a time when global trade patterns were being reshaped.
Canadian Trade Minister Maninder Sidhu expressed Canada's interest in strengthening partnerships with Karnataka in the fields of quantum computing, artificial intelligence (AI), aerospace and defence. Speaking in Bengaluru as part of a high-level Canadian trade mission to India, Sidhu stated that Canada and India possess complementary economic strengths and are in a prime position to build stronger relationships in the evolving global trade landscape.
Sidhu emphasized that Canada's expertise and talent align well with India's growth aspirations. A key focus of the mission is the Comprehensive Economic Partnership Agreement (CEPA), which both governments are actively negotiating. If successful, the agreement could potentially double bilateral trade to $70 billion by 2030, according to Sidhu, describing it as "transformational" rather than incremental.
Canadian institutional investors and pension funds have already made significant investments in India's infrastructure, healthcare, technology, clean technology and energy sectors, totaling approximately $107 billion. During the mission, over 30 agreements between Canadian and Indian partners were signed, valued at nearly $300 million Canadian dollars. Notably, Fairfax's proposed acquisition of IDBI Bank for close to 8 billion Canadian dollars (₹52,878 crore) illustrates investor confidence in India's financial sector.
Regarding visa-related concerns and measures to ease friction points for Indian students and professionals, Sidhu explained that Canada has been working to strengthen its immigration system since the last election. He assured that while the government aims to control immigration, it also wants to ensure a sustainable intake, taking into account the local impact on infrastructure, healthcare and housing.
Canada is particularly focused on economic immigration, with a demand for physicians and nurses highlighted in discussions with provinces and territories.
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