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Ministry of External Affairs
Canadian Prime Minister Mark Carney has announced a high-stakes diplomatic mission to India, Australia, and Japan from February 26 to March 7, 2026, aimed at diversifying Canada’s trade and securing massive new international investments. Recognizing the Indo-Pacific as critical to Canada’s future security and prosperity, the Prime Minister will seek to unlock opportunities in trade, energy, technology, and defense. While the mission includes a historic address to the Australian Parliament and clean energy partnerships in Tokyo, the visit to India is positioned as the primary engine for economic growth, with a target to more than double two-way trade to $70 billion by 2030. This strategic pivot focuses on leveraging Canada’s abundant critical minerals and tech expertise to build a “resilient economy” amid global uncertainty.
Key Pillars of the Indo-Pacific Diversification Mission
The India Growth Engine: Elevating the relationship with the world’s fastest-growing major economy through ambitious partnerships in AI, energy, and defense.
Trilateral Tech Collaboration: Building on the 2025 Canada-India-Australia partnership to drive supply chain resilience in critical and emerging technologies.
Strategic Defense & Maritime Security: Deepening cooperation with Australia on maritime security and critical minerals, marked by the first Canadian PM address to their Parliament in 20 years.
Clean Energy & Food Security (Japan): Strengthening Tokyo-based partnerships in advanced manufacturing and food security to support a “free and open Indo-Pacific”.
Investment Attraction: Meeting global business leaders to attract capital into Canada’s technology and energy sectors.
Spotlight: The India–Canada Strategic Reset
The visit to Mumbai and New Delhi represents a formal “Strategic Reset,” focusing on India’s status as a global tech powerhouse:
Trade Target ($70 Billion): Canada and India have committed to finalizing a Comprehensive Economic Partnership Agreement (CEPA) to reach $70 billion in two-way trade by 2030, up from $30.8 billion in 2024.
AI & Talent Corridors: A new emphasis on Artificial Intelligence (AI) and “talent and culture” aims to integrate Canadian tech expertise with India’s massive digital workforce.
Energy Security Partnership: Leveraging Canada’s uranium and LNG resources to support India’s energy transition while securing Indian investment for Canadian green-tech projects.
Policy Relevance
For India, the Carney mission marks a transition from “Transactional Trade” to “Deep Strategic Integration,” vital for the Viksit Bharat@2047 infrastructure and energy goals.
Sovereign Supply Chain Resilience: The Canada-India-Australia trilateral partnership allows India to bypass reliance on volatile supply chains for critical minerals needed for its EV and semiconductor missions.
Regulatory Convergence via CEPA: Finalizing the CEPA will provide the “Legal Certainty” identified in the National Monetisation Pipeline 2.0 as necessary for long-term institutional investment in Indian infrastructure.
Operationalizing AI for Rural Growth: Integrating Canadian AI expertise with India’s BHASHINI and Adi Vaani platforms can accelerate the digital transformation of rural and tribal regions.
Investment Flow Diversification: Attracting Canadian pension funds (among the world’s largest) is essential for meeting the ₹16.72 lakh crore target set in the National Monetisation Pipeline 2.0.
Bypassing the Talent Gap: Collaborative “talent and culture” initiatives will ensure that the next generation of Indian tech workers has direct access to high-value global projects, reducing the urban inequality.
Relevant Question for Policy Stakeholders: How should the Ministry of Commerce utilize the $70 billion target to fast-track ‘Digital Trade’ chapters within the CEPA?
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