Addressing a business reception hosted as part of the Team Canada Trade Mission to India in Bengaluru on Thursday, Sidhu said India’s growing innovation ecosystem offered significant opportunities for collaboration between the two countries.
Also read: PM Modi to visit Canada on December 11-12, focus on strengthening bilateral ties
“Canada and India are renowned for their creative flair. So what better place for all of us to gather than here in India’s Innovation Hub?”
He noted that Canadian companies including Kinaxis, OpenText, CGI, CAE, Magellan Aerospace, MDA Space and BCE Global Tech were already based in India.
“Companies of every size are succeeding here, and it always starts with a relationship,” he said.
Highlighting opportunities for cooperation in aviation infrastructure, Sidhu said he had seen the potential for Canadian investment during his visit to Terminal 2 of Bengaluru airport.”I saw the opportunity for Canada and India to work together just a few hours ago when I toured Terminal 2 of the Bengaluru airport and heard about its plans for its expansion. Canada’s Fairfax Financial has already shown what it can do with its investments in the airport, and Canadian companies such as Genetec, Transoft Solutions, and RBH Access are already working hard on the ground at the airport,” he said.
Sidhu said Canadian businesses were prepared to leverage India’s talent to introduce technology and innovation and build long-term partnerships.
“Canadian companies like those here tonight are ready to tap into the talent to bring technology and innovation and long-term partnerships to India’s dynamic market. In AI and quantum computing, in digital innovation and security, in aviation infrastructure, and in sustainability and smart mobility–and that’s just the short list,” he said.
In a post on X on Friday, Sidhu highlighted India’s importance to Canada’s efforts to diversify its export markets and reduce its dependence on the United States.
“As we look to double our non-U.S. exports over the next decade, India is a market we can’t afford to ignore. Its economy is growing at approximately 7% annually, it is on track to become the world’s third-largest economy, and it is home to 1.4 billion people,” he said.
He said the Team Canada Trade Mission, “the largest in 30 years,” was connecting Canadian businesses with Indian companies to build partnerships and pursue commercial agreements.
“Our Team Canada Trade Mission, the largest in 30 years, is connecting our 300 business delegates with Indian companies eager to build partnerships and sign commercial agreements,” Sidhu said.
He added that Canada and India were negotiating a Comprehensive Economic Partnership Agreement (CEPA) to strengthen bilateral trade ties and create further opportunities for businesses and workers.
“And we’re negotiating a Comprehensive Economic Partnership Agreement that will further our trade relationship and unlock more opportunities for Canadian businesses and workers at home,” he said.
Also read: Canada ministers step up outreach to boost ties
The remarks come as earlier on Wednesday, Canadian Foreign Minister Anita Anand met Prime Minister Narendra Modi and External Affairs Minister S Jaishankar in New Delhi, with discussions focusing on strengthening bilateral ties across trade, investment, security, energy, technology and people-to-people exchanges.
In a post on X following her meeting with PM Modi, Anand said India and Canada had enormous potential to build a more prosperous future together, highlighting opportunities to advance their strategic partnership.
“Canada and India have enormous potential to shape a more prosperous future, together. I had the opportunity to meet with Prime Minister @narendramodi in New Delhi today to discuss our strategic partnership and the opportunities ahead for trade, investment and security,” Anand said.
She noted that nearly 80 years of diplomatic relations had been strengthened by generations of families, students and entrepreneurs who had brought the two countries closer.
Anand also highlighted recent high-level engagements between the two countries, including Canadian Prime Minister Mark Carney’s visit to India earlier this year and the ongoing Team Canada Trade Mission, expressing hope that renewed engagement would translate into lasting opportunities.