New Delhi, Oct 7 (IANS): The elements of a strong economic relationship between India and Canada have never been lacking, and what has been missing, at different points, has been the political and institutional momentum to bring these ingredients together, but there are now signs that this may be changing, according to an article.
The Joint Leaders’ Statement of March 2026 gave the renewed relationship a substantial economic dimension. It identified energy, critical minerals, clean technologies, science and technology, space, resilient supply chains and talent mobility as areas for deeper cooperation. Most importantly, it put the Comprehensive Economic Partnership Agreement (CEPA) back at the centre of the economic relationship, the article by former Indian High Commissioner to Canada, Sanjay Kumar Verma, in India Narrative said.
With both governments determined to conclude the agreement by the end of 2026, the question now is what kind of CEPA India and Canada will construct -- and how effectively it can be used to reshape the economic relationship, it noted.
Canada has the resources to become a more important supplier of LNG, LPG, crude oil, uranium, and other energy products, while India is one of the world’s largest and fastest-growing energy markets. The March Joint Leaders’ Statement recognised this complementarity and established a Strategic Energy Partnership covering conventional energy, civil nuclear cooperation, clean energy and critical minerals. A CAD2.6 billion (US$1.88 billion) long-term uranium supply agreement between Cameco and India’s Department of Atomic Energy gives this ambition a concrete foundation. The two sides are also working towards a long-term LPG supply arrangement, the article observed.
It highlights that critical minerals offer another natural area of convergence. Canada possesses significant resources and expertise in minerals that are becoming increasingly important to batteries, clean technologies, advanced manufacturing and modern industry. The bilateral memorandum on critical minerals provides a basis for moving beyond simple resource transactions towards exploration, processing, investment, technology and supply-chain partnerships.
Clean energy provides a similar opportunity. Canada needs to expand renewable generation and storage as it modernises its electricity system. India has developed considerable capabilities in solar deployment, storage, and scalable renewable-energy solutions. The two sides have agreed to cooperate across solar, wind, bioenergy, small hydro and storage.
Technology could ultimately prove an even larger canvas. Canada has strengths in artificial intelligence, advanced research, quantum technologies and aerospace. India has a large digital ecosystem, a substantial technology workforce and experience in deploying digital platforms at scale. The renewed bilateral science and technology architecture provides a mechanism for turning some of these complementarities into actual projects. Space is another area where three decades of institutional cooperation between ISRO and the Canadian Space Agency provide a useful foundation, the article pointed out.
As part of the negotiations for CEPA, India will seek better access for its goods and services, particularly pharmaceuticals, engineering products, machinery, IT and professional services. Canada will have strong interests in agriculture and agri-food, energy, minerals, wood products and other resource-intensive sectors. These are not always easy negotiations. Domestic sensitivities on both sides are real and will need to be accommodated, the article added.
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This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.
