India and Canada have “tremendous potential” to collaborate across critical minerals, nuclear energy, and next-generation technologies such as artificial intelligence (AI), Commerce and Industry Minister Piyush Goyal said on Monday. The remarks came a day after Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney met on the sidelines of the G-20 summit and agreed to launch negotiations on a “high-ambition” Comprehensive Economic Partnership Agreement (CEPA).
Speaking at an event organised by the Indo-Canadian Business Chamber in New Delhi, Mr. Goyal said the two nations are “natural allies” with complementary strengths. “Canada and India are natural allies. We don’t compete with each other; we complement each other,” he said.
Mr. Goyal highlighted that the recent engagements between the two leaders had “clearly given a direction” for the future of bilateral ties, especially in boosting trade and investment flows. During their meeting on November 23 in Johannesburg, the two prime ministers agreed to begin CEPA negotiations and work toward doubling bilateral trade by 2030.
The Minister underscored significant opportunities in critical minerals and mineral processing technologies—areas where Canada has established capabilities and India seeks diversification. He also pointed to nuclear energy as a key sector for collaboration, especially given India’s longstanding partnership with Canada on uranium supplies.
Beyond traditional sectors, Mr. Goyal emphasised collaboration in emerging technologies such as AI, quantum computing, machine learning, and data centre infrastructure. “We can diversify our supply chains and focus on emerging technologies like AI, where India has strategic benefits to offer investors,” he said.
Mr. Goyal further noted that the Australia-Canada-India Technology and Innovation (ACITI) partnership—launched during the G-20 summit—should be pursued with “all seriousness” to advance cooperation in critical and emerging technologies.
He also extended an invitation for Canadian businesses to participate in the AI Summit scheduled in India in February. “The Prime Ministers have given us a very clear direction,” he said. “We would love for Canadian businesses and investors to participate.”
Later in the day, Mr. Goyal met Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation & Trade, to discuss strengthening bilateral trade, enhancing investment prospects, and deepening collaboration across key economic sectors.
