On expanding the economic relationship with India

Growing the Canada-India Partnership

David L. Emerson
Canada's Minister of International Trade

A strong bilateral relationship is about more than exports, imports and investments. It’s also about the “human links” that keep these relationships alive — the networks of people who, through their regular contacts with counterparts across borders, and around the world, draw nations closer together, and drive bilateral success.  

Canada’s relationship with India is a prime example.

It’s a relationship grounded in our shared Commonwealth heritage, in our commitment to democratic values, in the over 900,000 people of Indian descent living in Canada, and in the thousands of daily interactions between Canadian and Indian companies, investors, and researchers, that are pushing our economic relationship into the future.

I was recently in India to strengthen this network and to build on the success of our trade mission to India last month, I met with Finance Minister P. Chidambaram and Commerce and Industry Minister Kamal Nath to discuss opportunities for strengthening the Canada-India relationship.  The message I carried was clear: when it comes to commercial opportunities, Canada and India have much to offer one another.  India is widely recognized as one of the most competitive, influential and rapidly-growing economies on the planet. And Canada has much to offer as India continues its ascent.

The India government has been very receptive to our message. And there are several issues we hope to follow up on when Minister Nath possibly visits Canada later this year.

Our government has developed a targeted market plan that focuses on key sectors where Canada has a proven track record: sectors like infrastructure, information and communications technologies, life sciences, mining, financial services, and agriculture and agri-food. These are sectors where Canadian capabilities match Indian demand.

Infrastructure is a good example.  India’s dramatic growth has placed a heavy burden on the country’s existing facilities and infrastructure. It’s a burden that is constraining both the expansion of India’s economy, and the ability of its citizens to access and enjoy the benefits of its newfound success.  Canada can help. We have experienced and reputable companies involved in every aspect of construction, architecture, design, engineering, telecommunications and energy distribution.  

Canadian International Trade Minister David Emerson meets with 
Kamal Nath, India's Minister of Commerce and Industry to discuss opportunities for 
strengthening the Canada-India commercial relationship, including signing a 
Foreign Investment Protection and Promotion Agreement (FIPA) in 2007

We were accompanied by a number of Canada’s top infrastructure companies on the trade mission in March, and the companies are already looking into business opportunities in India and following up with local contacts they met on the mission.

Science and technology is another focus. In 2005, Canada and India signed an S&T Co-operation Agreement. Both countries are now engaging top-notch scientists from the academic, government and private sectors in focused areas of research. The Agreement provides an excellent opportunity for researchers from both countries to work together to develop and commercialize tomorrow’s technological breakthroughs.

To continue making these links and building these networks, Canada’s New Government is moving forward with a focused, results-oriented Global Commerce Strategy — a plan to get Canadian companies and investors more involved in the world’s most important markets, including India.

Under this plan, we are accelerating our efforts with India to develop an investment promotion framework that will boost two-way flows of capital by giving investors in both countries an added level of predictability and protection. Beyond this agreement, which both countries have committed to conclude in the coming months, we need to look at other opportunities for stronger commercial links. In my view, a high-quality Canada-India free trade agreement should be our long-term objective.

As part of our Global Commerce Strategy, we’re expanding our presence in India, to ensure that Canadian businesses and investors are well-served in this important market for years to come. We will also continue working with our many partners, like the Indo-Canadian Chamber of Commerce, the Canada India Business Council and CEO organizations in both countries, who have already made such a tremendous contributions and who stand ready to help push our bilateral relationship to new heights.

Markets like India hold immense promise for Canada. As a trading nation, we must ensure that our exporters and investors have the tools they need to be successful in the world’s most dynamic, diverse and influential markets. At the government and business levels, we need to be actively involved in these markets, aggressively building the business networks and the human links that will drive Canada’s success into the future.

This Government is absolutely focused on creating opportunities to do exactly that, to grow the Canada-India network, and to make Canada a partner of choice for international business and investment.