India-Canada Trade Deal on Track for End-of-Year Completion

Canadian High Commissioner Christopher Cooter announced that India and Canada are on track to finalize their trade deal by the end of this year. The agreement has been in the works since March, with both countries making significant progress in a relatively short period.

Cooter noted that while bilateral trade between India and Canada is currently around $8 billion, there's ample room for growth. He highlighted that Canadian investment in India has already created over 100,000 jobs in the country.

The High Commissioner emphasized that Indian pension funds and other institutional investors have invested a substantial amount in Canada, with an estimated $80 billion US dollars in assets. This makes Canada one of the largest investors in India, along with Singapore and the UAE.

Cooter pointed out that Canadian investment in India is primarily focused on physical assets, with an estimate of at least 75% of investments being in this category. He suggested that if India were to deregulate its mining sector, many Canadian companies would be eager to invest in India's natural resources.