India and Canada to hold 5th Ministerial Dialogue on Trade and Investment (MDTI)

The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Government of Canada will be visiting New Delhi from 10-13 March to hold 5^th India – Canada Ministerial Dialogue on Trade & Investment (MDTI).

The meeting will be co-chaired by Shri Piyush Goyal, Minister of Textiles, Minister of Commerce and Industry and Minister of Consumer Affairs, Food and Public Distribution. During the MDTI meeting various bilateral trade and investment issues will be discussed in order to further strengthen the bilateral ties and economic partnership including India-Canada Comprehensive Economic Partnership Agreement (CEPA).

There has been a strong recovery in bilateral trade in 2021 after the fallout as a result of the COVID-19 pandemic, with bilateral trade in goods reaching US$ 6.29 billion registering a growth rate of 12% as compared to the previous year. Total bilateral trade including goods and services crossed US$ 11 billion. In current financial year during April 2021-January 2022, Indian exports to Canada have increased to US$ 3 billion approx. registering a growth of  almost 25% over the previous year.

Major Indian exports to Canada include drugs and pharmaceutical products, iron & steel products, marine products, cotton fabrics & readymade garments (RMG) and chemicals etc, while key Canadian exports to India comprise pulses, fertilizers, coal and crude petroleum etc.