Toronto, Aug 28: Union Finance Minister Nirmala Sitharaman said stronger economic cooperation between India and Canada can help bring greater stability and certainty to the global economy at a time of geopolitical and economic uncertainty.
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Speaking at the first India-Canada Economic and Financial Dialogue in Toronto, Sitharaman said the dialogue comes at an important stage in the relationship between the two countries.
She noted that recent high-level engagements between Indian and Canadian leaders have helped restart bilateral relations and created an opportunity to expand economic cooperation.
According to the Finance Minister, India and Canada can work together in key areas such as food security, energy security and critical minerals. Greater cooperation in these sectors could help strengthen supply chains, support purchasing power and reduce risks linked to excessive dependence on a limited number of global suppliers.
Sitharaman led the Indian delegation at the dialogue, while Canadian Finance and National Revenue Minister Francois-Philippe Champagne headed the Canadian side.
The discussions are aimed at identifying areas where the two countries can deepen economic and financial cooperation and contribute to more resilient global growth.
Business representatives attending discussions in Toronto also highlighted opportunities for companies from both countries to expand their operations and investments.
The renewed economic engagement between India and Canada comes as both sides look to build stronger commercial and investment links and explore new areas of cooperation.
Sitharaman said the current global environment makes closer cooperation between economies such as India and Canada particularly important for creating greater predictability and strengthening economic resilience.
