Canada Offers to Help India with Energy, Critical Minerals, and Aerospace
Canada's Trade Minister Maninder Sidhu has expressed his country's willingness to help India as it expands its economy. Speaking at the G20 Trade Ministers' Meeting in Milwaukee, Sidhu identified energy, critical minerals, and aerospace as key areas for deeper economic cooperation between Canada and India.
Sidhu pointed out that India is growing rapidly, with a 7% annual growth rate, and will require 70% more energy by 2035. He noted that Canada has significant energy resources, including liquefied natural gas, which it expects to export in large quantities within the next five years.
The minister also highlighted the potential for collaboration on critical minerals, particularly as India expands its automobile industry and seeks to strengthen supply chains for electric vehicles and batteries. Sidhu stated that Canada is the only country in the Western hemisphere with all the necessary elements to produce an electric battery.
Canada and India are currently negotiating a trade agreement, with the fifth round of negotiations scheduled to begin in Ottawa on Monday. Sidhu emphasized the importance of investment flows between the two countries, citing a recent investment summit in Toronto that attracted Indian investors and generated commitments worth $500 billion.