India, Canada Target $50 Billion Trade by 2030

India and Canada have set an ambitious goal to take bilateral trade to $50 billion by 2030. This marks a renewed push to strengthen economic ties between the two nations.

During a meeting held on 2nd March in New Delhi, Prime Minister Narendra Modi and Canadian PM Mark Carney highlighted cooperation across key sectors, including artificial intelligence (AI), defence, critical minerals, healthcare and people-to-people exchanges.

Both countries agreed to fast-track the Comprehensive Economic Partnership Agreement (CEPA) to unlock greater trade and investment opportunities. They also signed a $2.6 billion uranium supply deal and decided to collaborate on small modular and advanced nuclear reactors.

The two sides announced the signing of multiple Memoranda of Understanding (MoUs) covering critical minerals, space, energy, technology, defence and cultural exchanges. In addition, an India-Canada Defence Dialogue will also be established to boost defence industry cooperation, maritime awareness and military exchanges.

Prime Minister Modi said both countries are natural partners in technology and innovation. There are plans to deepen collaboration in AI, quantum computing, supercomputing and semiconductors. New university partnerships in AI, healthcare, agriculture and innovation were also announced. Moreover, there are plans for Canadian universities to open campuses in India.

Canadian PM Mark Carney described the engagement over the past year as the most significant in over two decades. He praised India’s digital payments system, including UPI, and said Canada will explore cooperation in this area to benefit from India’s innovation.

Both leaders are also expected to meet with business leaders from the two countries to strengthen economic cooperation further.

Tradz by EquityPandit leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!

The post India, Canada Target $50 Billion Trade by 2030 appeared first on Equitypandit.