New Delhi, October 16, 2026: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) warmly welcomes the renewed momentum in India-Canada relations marked by the visit of Canada's Foreign Minister, Hon. Ms. Anita Anand, and her productive meetings with Prime Minister Shri Narendra Modi and External Affairs Minister Dr. S. Jaishankar yesterday in New Delhi.

ASSOCHAM notes that the commitment expressed by both sides to build a constructive and forward-looking strategic partnership will have deep and long-term benefits for the economies and peoples of both countries.

We particularly welcome the focus on early conclusion of the Comprehensive Economic Partnership Agreement (CEPA), as highlighted in the official readout. An early harvest CEPA will give a decisive boost to bilateral trade and investment, which has immense untapped potential.

Commenting on the development, ASSOCHAM President Shri Nirmal Minda said: "The visit of FM Anita Anand comes at a very opportune time. While global trade is witnessing re-alignments due to tariff measures, India offers a stable, fast-growing and large market for Canadian goods, technology, energy, and services. This warming of political ties opens new doors for Canadian industry to diversify and fill gaps, while giving Indian industry and consumers access to high-quality Canadian products in areas like pulses, critical minerals, clean energy, defence technologies, education and agri-tech."

ASSOCHAM believes that in the context of the current Canada-USA tariff issues, where tariffs imposed first by the US and counter-measures by Canada have disrupted North American supply chains, India can emerge as a trusted and complementary partner for Canada.

India, with its 1.4 billion strong market, Atmanirbhar Bharat manufacturing push, and strong people-to-people linkages with Canada - enriched by generations of families, students and entrepreneurs - is ideally placed to absorb and welcome greater Canadian presence.

Key sectors of opportunity identified by ASSOCHAM:

1. Trade and Investment: Doubling bilateral trade through CEPA, with focus on Canadian pulses, potash, lentils, newsprint, and high-tech manufacturing.

2. Energy and Critical Minerals: Canada as a key partner for India's energy security and critical minerals for EV and green transition.

3. Technology, Defence and Innovation: Co-operation in AI, quantum, clean-tech and defence industrial collaboration.

4. Education and People-to-People: Sustained student mobility and skilling partnership.

ASSOCHAM, through its India-Canada Business Forum, will work closely with the Government of India, the High Commission of Canada in India, and the ongoing Team Canada Trade Mission to translate this political goodwill into tangible business outcomes.

We look forward to Prime Minister Modi's proposed visit to Canada in December 2026, which will further cement this renewed partnership.