Mumbai, March 13, 2026: Signalling a renewed push to revive economic engagement between India and Canada, the World Trade Center Mumbai, in association with the All India Association of Industries (AIAI), hosted a Business Roundtable with a Canadian Trade Delegation led by the Indo-Canadian Chamber of Commerce (ICCC) at Centrum Hall.
In the picture (L to R): Mr. Prashant Srivastava, President, Indo-Canadian Chamber of Commerce (ICCC), Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries and Mr. Andrew Maharaj, Senior Trade Commissioner and Consul, Consulate General of Canada
Mr. Andrew Maharaj, Senior Trade Commissioner and Consul, Consulate General of Canada, said India–Canada relations are entering what he described as a “phase of reconstruction and acceleration.” He noted that both countries are now looking to rebuild momentum in economic engagement and aim to scale bilateral trade to nearly USD 70 billion by 2030.
Referring to recent discussions between Canadian Prime Minister Mr. Mark Carney and Prime Minister of India Shri Narendra Modi, Mr. Maharaj said the proposed Comprehensive Economic Partnership Agreement (CEPA) could serve as an important framework for expanding trade and investment between the two countries.
Highlighting priority sectors, he said Canada is keen to deepen cooperation with India in areas such as energy, artificial intelligence, MSMEs, mining, technical education and innovation-driven industries. He also referred to the USD 2.6 billion uranium and nuclear cooperation agreement between the two countries, noting that as India expands its clean energy capacity from 200 GW to 500 GW, collaboration in critical minerals such as lithium and nickel will become increasingly important.
Mr. Maharaj added that Canadian investment funds are closely watching India’s growth trajectory, with potential investments estimated to reach USD 100 billion by 2030 across infrastructure and strategic sectors.
Addressing concerns raised by industry representatives on visa issues, he said Canada is working towards streamlining visa processes to better facilitate business travel, industry collaboration and student mobility.
Mr. Prashant Srivastava, President, Indo-Canadian Chamber of Commerce (ICCC) said the current trade mission comes at a pivotal moment for rebuilding economic engagement between the two countries after nearly five years of limited interaction.
“This mission focuses on emerging sectors such as artificial intelligence, technology and startups, while also strengthening collaboration in traditional areas including agriculture and agri-food, education and skill development, hospitality and tourism,” he said.
On the sidelines of the roundtable, World Trade Center Mumbai and the Indo-Canadian Chamber of Commerce (ICCC) signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation in trade facilitation, business delegations, knowledge exchange and industry engagement between India and Canada.
Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries, said bilateral trade between India and Canada currently stands at around USD 13 billion, with significant potential for expansion.
“As India continues its strong economic momentum and is expected to become the world’s third-largest economy by 2026, new opportunities are emerging in sectors such as energy, education, skilled workforce mobility, technology and tourism,” he said.
Dr. Kalantri added that Canada continues to attract Indian businesses and investors, while several Canadian pension funds are exploring investment opportunities in India’s infrastructure and growth sectors.
“Education and talent mobility remain important pillars of bilateral engagement, with more than 700,000 Indian students pursuing higher education in Canada,” he noted.
Capt. Somesh Batra, Chairman, World Trade Center Mumbai, delivered the Vote of Thanks, expressing appreciation to the Canadian delegation and industry participants for contributing to a constructive dialogue aimed at strengthening economic ties between the two countries.
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