India Seeks Deeper Collaboration with Canada Across Critical Minerals, Clean Energy and Emerging Technologies

Union Commerce and Industry Minister Piyush Goyal have signalled a renewed push to deepen economic engagement with Canada, identifying critical minerals, clean energy, nuclear collaboration and supply-chain diversification as priority areas for expanded cooperation. Addressing the Indo-Canadian Business Chamber in New Delhi, the Minister said India offers competitive strengths in emerging technology domains including artificial intelligence, quantum computing, machine learning and next-generation data centre infrastructure, supported by what he described as the world’s largest pool of annual STEM graduates.

Goyal noted that India and Canada remain connected through shared democratic values and a long-standing commitment to development, adding that bilateral relations continue to show resilience despite earlier diplomatic strains. Trade and investment flows, he said, reflect a stable relationship with growing interest from Canadian firms across sectors.

He pointed to the recent meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney on the sidelines of the G20 Summit, during which both leaders agreed to launch negotiations for a high-ambition Comprehensive Economic Partnership Agreement. The Minister said the proposed CEPA provides a structured framework to resolve commercial issues, strengthen investor confidence and supports the shared objective of doubling bilateral trade by 2030.

Highlighting India’s expanding energy ecosystem, Goyal said the country’s 500-GW power grid, including 250-GW of clean energy assets, provides the scale and resilience required for AI-driven infrastructure. India’s plan to double clean energy capacity to 500-GW by 2030, he added, positions the country as one of the few democracies able to offer round-the-clock clean energy at globally competitive prices.

Referring to the seventh Ministerial Dialogue held earlier this month with Canada’s Minister of International Trade, Goyal said both countries agreed to reinvigorate business-to-business engagement and facilitate two-way business delegations. He welcomed the continued flow of Canadian investments into India, particularly from pension funds, and noted a growing appetite among Canadian companies to expand operations in the Indian market.

The Minister highlighted India’s economic transformation over the past decade, noting the country’s rise from the “Fragile Five” to its current position among the world’s top five economies. India is expected to become the world’s third-largest economy within the next two to two-and-a-half years, he said, supported by a strong banking system, high foreign exchange reserves, low inflation, rapid infrastructure expansion and buoyant capital markets. He pointed out that the Indian stock market has grown nearly four-and-a-half times in 11 years, reinforcing global investor confidence.

Goyal said India’s development trajectory is anchored in macroeconomic stability, inclusive and sustainable growth and broad-based welfare measures that ensure participation from 1.4 billion citizens. He emphasised the role of India’s young, skilled and aspirational workforce in driving the country’s long-term economic momentum.

Outlining a five-point agenda to strengthen India-Canada ties, the Minister called for converting dialogue into delivery through sectoral roadmaps and measurable outcomes. He sought to revitalise the India–Canada CEO Forum, encouraged Canadian companies to participate in India’s upcoming AI Summit and underscored the potential for joint innovation in areas supported by India’s strong intellectual property regime, large datasets and a recently announced USD 12-billion R&D fund.

Goyal urged both countries to define focused corridors of cooperation across critical minerals, clean energy, aerospace, defence and advanced manufacturing under the Make in India programme. He said Canadian innovation, combined with India’s scale and capability, can unlock significant opportunities for businesses in both countries.

Inviting Canadian investors to partner in India’s journey toward becoming a developed nation by 2047, Goyal said India offers a stable, transparent and opportunity-rich environment for long-term collaboration. He expressed confidence that the partnership between India and Canada will continue to gain strength in the coming years.