Toronto/IBNS-CMEDIA: Canada and India are set to deepen economic and financial cooperation as Finance Minister François-Philippe Champagne hosts India’s Finance Minister Nirmala Sitharaman in Toronto on August 26 and 27.
Department of Finance Canada announced, the two ministers will participate in the inaugural Finance Ministers’ Economic and Financial Dialogue on August 27.
The discussions expected to focus on economic development, financial-sector cooperation, investment and shared international priorities.
The meeting comes as Canada seeks to diversify its economic partnerships and strengthen ties with India, which the Canadian government described as the world’s fastest-growing major economy.
The talks are also expected to explore opportunities in sectors including energy, agriculture, critical minerals, artificial intelligence and advanced manufacturing, areas Canada identifies as key to both countries’ economic ambitions.
According to the Department of Finance Canada, total direct and indirect Canadian investment in India exceeded $110 billion in 2024.
The government said both countries are seeking to transform their economies and diversify key supply chains, creating opportunities for greater bilateral cooperation.
Champagne and Sitharaman are also scheduled to hold a joint press conference following the dialogue and participate in a discussion hosted by the Canadian Club Toronto on advancing shared economic interests.
The Canadian government said cooperation with India could help leverage the strengths and ambitions of both economies and create long-term opportunities for investment and trade.
(Reporting by Suman Das)
