India and Canada Agree on Economic Partnership Terms

India and Canada have agreed to the terms of reference for a comprehensive economic partnership, the Indian foreign ministry stated on Monday. This agreement represents a key milestone in the effort to strengthen commercial ties and expand cooperation between the two nations.

During their meeting at Hyderabad House in New Delhi, Indian Prime Minister Narendra Modi and visiting Canadian Prime Minister Mark Carney announced an ambitious goal to grow bilateral trade to $50 billion by 2030. The leaders emphasized that the partnership would focus on mutual economic growth and the development of strategic sectors.

The finalized terms of reference provide a clear framework for future negotiations, allowing both countries to work toward a more integrated economic relationship. This step is expected to facilitate smoother trade operations and encourage new investment opportunities for businesses in both India and Canada.