Our Bureau
New Delhi
Prime Minister Narendra Modi visited Cyprus and received the highest civilian honor of the country. After that he will be traveling to Canada to attend the G7 summit. PM Modi is being invited as a special invitee to the summit and he will majorly be there to revamp the economic and business relations between the two countries which has witnessed some turbulent times in the past year or so.
It has been in the public eye that both India and Canada are negotiating a trade agreement. The agreement was put on halt as the diplomatic ties between the two countries dampened in the past year. But the trade between two countries has only grown in the last year.
The trade between India and Canada has grown significantly in the financial year 2025. The trade has increased by 3.2% and has now reached $8.6 billion while India faced a trade deficit for the past two years. The exports for India have amounted to somewhere around $4.2 billion and have seen a 9.8% growth in the fiscal year 2025.
Although the exports have seen a good growth, the imports have fallen down a bit with $4.44 billion and dropped down by 2.3%. As per the reports, the top 10 exports from India to Canada have a major share of 57.2% of the total exports for the country. On the other end, the top 10 imports held a bigger share of 83.7%.
The Prime Ministers of both the nations Narendra Modi and Mark Carney are set to meet each other at the summit. There have been reports suggesting that the Indian officials have hinted at the plans made by the government regarding the betterment of law enforcement in the country. This has been done to obtain a freer flowing path for sharing information as well as enhancing economic cooperation.
