The free trade agreement talks between India and Canada have been put on hold due to misconceptions, according to Union Minister Piyush Goyal. Speaking at the Hindustan Times Leadership Summit, Goyal stated that some Canadian politicians hold baseless misconceptions that have led to the pause in discussions. He emphasized that this decision would ultimately harm Canada more, as India’s market is vast and provides numerous opportunities. On a positive note, Goyal mentioned that talks with the UK regarding the agreement are progressing steadily.
The relationship between Canada and India has deteriorated since Prime Minister Justin Trudeau accused New Delhi of being behind the assassination of a Khalistani terrorist in British Columbia. However, India has categorically denied these allegations. In terms of trade, the bilateral trade between Canada and India was valued at $8.16 billion in 2022-23, significantly less than India’s $128.7 billion bilateral trade with the US. Nevertheless, India heavily relies on imports from Canada for its potash needs, as Canada is the largest exporter of this crop nutrient.
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