India-Canada Relations: India has halted negotiations for a comprehensive free trade agreement (FTA) with Canada, which is not “strategically” important to the country’s needs, as only 8% of bilateral trade between the two countries is expected to be exports in FY2023. There was a billion dollar bilateral trade and imports are almost equally balanced. This information has been given by two officials.
Canada is allowing its soil to be used by subversive elements against India, but India’s imports can be easily replaced by other friendly suppliers in our national interest, officials said, requesting anonymity. Because, we are not only dependent on Canada for our main goods.
Now India’s action, Canadian diplomat expelled from the country; The ambassador was also called and asked for an answer.
India’s exports have already declined:According to official data, in 2022-23, India exported goods worth $4.11 billion to Canada and goods such as coal, fertilizers, pulses, pulp and aluminum worth $4.17 billion. India’s exports to Canada fell over 20% year-on-year to $1.24 billion in the first four months of the current fiscal year (FY24). Imports also fell by 6.39% to $1.32 billion during the same period, according to official data. India exports pharmaceuticals, iron products, telecommunication equipment, textiles, marine products, auto components, iron and steel to Canada.
What is the demand of Khalistan? The 75-year-old strong relationship between India and Canada is going up in flames.
Anti-India activities are going on from Canadian soil. The Hindustan Times reported on 16 September that New Delhi had suspended free trade talks with Canada because Ottawa was encouraging subversive elements to carry out anti-India activities on its soil. The development comes days after Prime Minister Narendra Modi expressed strong concerns to his counterpart Trudeau about anti-India elements promoting separatism during the Canadian Prime Minister’s visit to India earlier this month.
There have been nine rounds of negotiations: Earlier India-Canada FTA negotiations were progressing well. The ninth round was virtually held from July 12 to July 21. The two countries have so far discussed trade matters related to goods, trade measures, rules of origin, procedures of origin, services, institutional and core provisions. The last and sixth Ministerial Dialogue on Trade and Investment (MDTI) in Canada was held on May 8.
India was negotiating an interim India-Canada Early Progress Trade Agreement (ETPA), which would eventually result in a Comprehensive Economic Partnership Agreement (CEPA) or comprehensive FTA. Since the resumption of FTA negotiations between India and Canada in March 2022, there have been nine rounds of negotiations till July this year.
Canadians invest heavily in India
“Canadians have invested heavily in India due to the growth potential of the Indian market and its strong economy. According to official data, Canadian pension funds have invested more than $55 billion in India and are increasingly looking at India as a favorable investment destination. More than 600 Canadian companies have a presence in India and more than 1,000 companies are actively doing business in the Indian market.