Experts: Trade and investment links between India and Canada may not be affected by diplomatic relations

<p>Experts believe that because economic relationships are motivated by business factors, the tight diplomatic relations between India and Canada are unlikely to have an influence on trade and investments between the two nations.<img decoding=”async” class=”alignnone wp-image-190869″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-experts-trade-and-investment-links-between-india-and-canada-may-not-be-affected-by.jpg” alt=”theindiaprint.com experts trade and investment links between india and canada may not be affected by” width=”1194″ height=”894″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-experts-trade-and-investment-links-between-india-and-canada-may-not-be-affected-by.jpg 259w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-experts-trade-and-investment-links-between-india-and-canada-may-not-be-affected-by-150×112.jpg 150w” sizes=”(max-width: 1194px) 100vw, 1194px” title=”Experts: Trade and investment links between India and Canada may not be affected by diplomatic relations 15″></p>
<p>India and Canada both trade in complimentary goods; they do not compete on the same kinds of goods.</p>
<p>As a result, the commercial connection will develop and unaffected by current affairs, according to co-founder of the Global commercial Research Initiative (GTRI), Ajay Srivastava.</p>
<p>The two nations’ discussions for a free trade deal have been put on hold as a result of certain political circumstances.</p>
<p>On September 10, Prime Minister Narendra Modi informed Justin Trudeau of Canada of India’s grave concerns regarding the ongoing anti-Indian activities of extremist elements there that were encouraging secessionism, inciting violence against its diplomats, and endangering the Indian community there.</p>
<p>Following Canada’s request for an Indian official to leave the country due to a “potential” Indian connection to the murder of a Khalistani separatist leader in June, India on Tuesday announced the expulsion of a Canadian diplomat.</p>
<p>According to Srivastava, it is doubtful that these recent events will have an impact on the strong economic, trade, and people-to-people relations that exist between the two countries.</p>
<p>India and Canada’s bilateral commerce has increased dramatically in recent years and is expected to reach $8.16 billion in 2022–2023.</p>
<p>Pharmaceuticals, gems and jewelry, textiles, and machinery are among the USD 4.1 billion worth of goods that India sends to Canada, while the USD 4.06 billion worth of goods that Canada exports to India includes pulses, lumber, pulp and paper, and mining products.</p>
<p>Regarding investments, he said that Canadian pension funds will keep making investments in India due to the country’s sizable market and favorable return on capital.</p>
<p>By the end of 2022, Canadian pension funds had made over USD 45 billion in investments in India, making it the fourth-largest receiver of Canadian FDI globally.</p>
<p>Infrastructure, renewable energy, technology, and financial services are the top industries in India where Canadian pension funds invest.</p>
<p>The chilly ties between India and Canada at the moment are undoubtedly reason for worry, according to exporter and chairman of Technocraft Industries Sharad Kumar Saraf, who is located in Mumbai.</p>
<p>“However, only business factors are the driving force behind the bilateral commerce. Political unrest is transient and shouldn’t have an impact on commercial ties, Saraf added.</p>
<p>He continued by saying that while India and China have tense ties, their trading relationship is still strong.</p>
<p>“Bilateral commerce is really a useful strategy for fostering better political ties. To enhance our bilateral commerce with Canada, India must put out extra effort, according to Saraf.</p>
<p>Strong educational cooperation exists between Canada and India. Between Indian and Canadian academic institutions, there are more than 200 educational collaborations.</p>
<p>Additionally, according to GTRI, there are around 3,19,000 Indian students studying in Canadian universities, making them the country’s biggest group of foreign students.</p>
<p>The Canadian Bureau for International Education (CBIE) estimates that Indian students helped the Canadian economy in 2021 to the tune of USD 4.9 billion.</p>
<p>With 20% of all foreign students in Canada in 2021, Indian students will be the biggest international student demographic there.</p>
<p>According to Srivastava, because educational alliances offer reciprocal benefits, the present circumstances could not have an effect on the cooperation.</p>
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