The relationship between India and Canada, two of the world's largest democracies, has witnessed a few ups and downs recently. Here's a comprehensive deep-dive into the current scenario, focusing on trade relations between these two nations.
India and Canada have entered a tense phase, with both nations expelling diplomats.
The tension escalated when Canadian Prime Minister Justin Trudeau pointed fingers at Indian government officials regarding the demise of Khalistani activist, Hardeep Singh Nijjar.
India responded by requesting a senior Canadian diplomat to depart. These expulsions signal a dip in the diplomatic rapport between the two countries.
India and Canada had revived their negotiations on a potential free trade agreement (FTA), a significant step after a decade of inactivity.
However, undisclosed political concerns have temporarily halted these discussions.
Despite the challenges, there is optimism that once political differences are settled, the discussions will proceed.
According to Invest India, the nation's investment promotion agency:
● Canada stands as the 18th major foreign investor in India.
● Between April 2000 to March 2023, Canada invested approximately $3,306 million in India.
● This means Canada's investment was nearly 0.5% of the total Foreign Direct Investment (FDI) influx to India.
● In 2022, India was recognized as Canada's ninth-largest trading associate.
● Sectors like services and infrastructure garnered 40.63% of the entire FDI investments from Canada to India.
● Over 600 Canadian enterprises have established their footprint in India, with more than 1,000 companies actively exploring business opportunities in the Indian arena.
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