PM Carney Means Business and India Becomes a Hot Destination
Hello friends.
Strategic partnership in mere words or on paper means nothing without an actual executive plan behind it. Since 2015, I have been hearing this buzz word “strategic partnership” with India. True, there has been some positive momentum in certain specific areas and most of it led by well-known investors, funds and provinces who refused to let politics dictate economics. Except these sporadic engagements, nothing close to the true potential of a Canada India partnership was visible anywhere.
In these past few years, India has seen tremendous changes in its priorities, alignments, and positioning on world stage and what it offers to the rest of the world. In the ever-evolving global dynamics, a country’s relevance is based on two vital transactions: either you can supply what the world wants or that you can buy what world wants to sell. This is where I see a very different approach by PM Carney as Canada is a supply powerhouse and India is a global buyer. Carney probably understands business and economy better than politics, but isn’t right politics all about making sure your economy and people are prosperous?
That is precisely what our prime minister is busy working on. He is perhaps more airborne these days than grounded as he flies to multiple capitals to make friends and do deals that will impact the economic well-being of Canadians. Unfortunately, he does not fly Air Canada; he had good chances to accumulate enough Air Miles to meet the new tough criteria for Super Elite qualification! He is in a tearing hurry to rebuild burnt bridges and strengthen Canada on the global stage. We Canadians love the way he is positioning himself and Canada as we face unprecedented economic uncertainty. It is no more about petty gains on electoral front; it is more about strategic autonomy and what will work for Canada in the long term. This is a very refreshing change in Canadian politics.
Yes, it is true that PM Carney is skipping an all-important stopover in Punjab this time. His itinerary is packed covering three major countries including Australia and Japan, before he gets back to Ottawa. Not that Punjab is not important – Punjab is the pride of India. But so are many other states in India who are contributing immensely to the current growth story. Not every visiting dignitary visits all 28 states in India. This is not a question to be raised on this trip. This trip is all about business, investment, resetting and rebuilding the relationship. Mumbai and Delhi can well serve the purpose. I foresee many good business meets in Mumbai and then maybe some important outcomes and announcements in Delhi. The sequence of stops also shows seriousness of intent. In Mumbai- you get to see financial capital and ambition of New India and in Delhi you formalize how Canada can be an integral part of that aspirational New India long term.
The original breakthrough in the relationship had come when PM Carney invited PM Modi to the G7 meeting held in Canada last year. Subsequent meetings between PM Carney and PM Modi at various international events started the process of rebuilding trust. Official visits to each other’s country by powerful ministers like Anita Anand, Maninder Sidhu, Tim Hodgson, S Jaishankar, NSA Ajit Doval and many more on both sides showed a clear and definite intent and plan to bury the past, work on common synergies and take this bilateral to the next level based on trust, sincerity and long term benefit for people on both sides.
Just as in any serious negotiation, there will be expectations from either side depending on their priorities and capabilities. It is almost certain that India will be raising thorny issues like the future of students, clear pathways to work and residency for those who migrate to Canada. Closely connected to the people-to-people contacts will also be a review of how certain groups will continue to disturb and disrupt any positive action by Ottawa. India will be naturally keen to learn if the relationship can once again be held to ransom by groups of people hell bent on throwing the spanner in the slowly grinding wheels of Canada India relationship towards normalcy.
Indian businesses in the private sector are some of the largest in the world today with unique capabilities and future plans. They are among some of the most active investors/entrepreneurs in places like Dubai, Singapore, London, New York as they aspire to play even bigger roles internationally. We should be in a position to attract some of that talent and capital by creating a domestic situation that is peaceful and productive for them. I believe Canada can be a leading partner to many of them, looking for opportunities to invest, especially in the resource sector. Of course, it is not going to be easy to dispel the already existing notion that special interest always wins in Canada and that even carefully planned resource extraction plans often die on the table. We need to urgently change this perception if we are to move forward on the valuable assets that we currently have below ground, waiting to be explored.
There are also many Indo Canadian entrepreneurs rearing to go and invest in their homeland. Our community can play a key role in elevating engagement, building better knowledge and data sets, and derisk and make the path smoother, using local connections. There are many institutions and organizations who can play a key role if brought on board to facilitate this initiative like Canada India Foundation, Canada India Business Council, Indo Canada Chamber of Commerce, India Canada Business Council. Decision makers should be open to engage everyone, not just select few.
Canada already has shown its trust in the India growth story. Major funds, including the federal and provincial pension funds, besides the private players, have invested heavily in many sectors in India. In return, we must expect regulatory certainty, speedy dispute resolution, favourable tax and compliance measures and trouble-free repatriation when needed. As both sides wade deep into the nitty-gritties, there will be many areas that will need to be ironed out – tariffs, quality testing, human capital exchanges, digital rules regarding privacy and sensitivity on administrative decisions take by either side for the benefit of its people and national security reasons.
These are not insurmountable given that both sides show mutual trust and respect and a willingness to get the job done. India has shown its card to the world by signing significant bilateral deals. As of February 2026, India has signed nine FTAs covering 38 countries and are in the advanced stages of deals with the EU and the US.
Isn’t it time to blow the dust of the mothballed Canada India Economic Partnership (CEPA) and bring it alive? All of us who work in this bilateral space will welcome it with Diwali level fireworks! The opportunity is real, it’s all about taking it to the finishing line and ensuring no one is allowed to play spoilsport. Go Canada Go!
Thank You!