**Executive Summary**
This document records the Prime Minister's remarks at the India-Canada CEO Forum, highlighting a new chapter in bilateral relations. Key objectives include finalizing the Comprehensive Economic Partnership Agreement and advancing bilateral trade towards 50 billion dollars. The remarks emphasize collaboration in clean energy, infrastructure, AI, manufacturing, and food processing, aiming to transform the partnership into prosperity.
**Key Points / Main Content**
* **Strengthening India-Canada Relations:**
* Recent months have seen significant progress, with growing trust and new momentum in bilateral relations, particularly during a time of global economic uncertainty.
* The dialogue aims to prepare a new blueprint for the partnership between Indian and Canadian business leaders.
* **Economic Goals and Trade:**
* A decision has been made to advance the shared vision, moving towards raising bilateral trade to 50 billion dollars.
* The Comprehensive Economic Partnership Agreement will be finalized at the earliest opportunity.
* **India's Economic Transformation:**
* India is described as the fastest-growing major economy, driven by domestic demand, a young population, large investments, and digital technology.
* Reforms include policy simplification, production-linked incentives, logistics modernization, and tax and bankruptcy reforms to enhance ease of doing business.
* **Areas of Future Collaboration:**
* **Clean Energy:**
* Cooperation in the nuclear sector, including a signed contract for long-term uranium supply and advancements in small modular and advanced reactors.
* Building resilient supply chains for critical minerals.
* Leveraging Canada's innovation and India's scaling capability in batteries and energy storage.
* **Infrastructure and Capital Partnership:**
* A record allocation of 130 billion dollars for infrastructure in the current budget, with 1.3 trillion dollars planned under the National Infrastructure Pipeline.
* Canadian pension funds have invested 100 billion dollars in India, demonstrating trust.
* **Artificial Intelligence (AI):**
* Establishing joint AI compute corridors and AI innovation sandboxes for startups.
* **Manufacturing and Technology:**
* Combining Canada's technology with India's scale in electronics, aerospace, and engineering to strengthen global value chains.
* **Food Processing:**
* Focus on mega food parks, cold chains, and food testing labs, leveraging India's rapid development in this sector.
* **Expanding the Partnership Beyond Capitals:**
* The partnership should extend to states and provinces, linking Alberta's natural resources with Gujarat and Rajasthan's renewable ambitions.
* Connecting Ontario's manufacturing strength with Tamil Nadu and Maharashtra's industrial clusters.
* Integrating Montreal's tech ecosystem with Bengaluru and Hyderabad's innovation hubs.
**Impact Analysis**
**Business Leaders of India and Canada**
* **Impact:** They are tasked with creating a new blueprint for the India-Canada partnership and will be instrumental in realizing the vision of increased bilateral trade and collaboration in key sectors.
* **Action Required:** To contribute to the dialogue, offer vision and commitment, and actively participate in developing and implementing the identified areas of collaboration.
**Governments of India and Canada**
* **Impact:** Governments are responsible for creating the necessary frameworks and policy direction for the partnership. They have agreed to finalize the Comprehensive Economic Partnership Agreement.
* **Action Required:** To continue providing policy direction and facilitate agreements like the Comprehensive Economic Partnership Agreement to support the economic partnership.
**Canadian Pension Funds**
* **Impact:** Have already demonstrated significant investment in India, indicating trust in India's growth story. They are invited to continue participating in India's infrastructure development.
* **Action Required:** To consider further investments in India's infrastructure and growth sectors.
**States and Provinces of India and Canada**
* **Impact:** Their economic strengths and ambitions are highlighted as crucial for extending the partnership beyond national capitals.
* **Action Required:** To forge links between respective provincial/state entities, such as Alberta with Gujarat and Rajasthan, and Ontario with Tamil Nadu and Maharashtra, and integrate tech ecosystems.
Key Entities Referenced
India-Canada CEO Forum: A forum for business leaders from India and Canada to discuss partnership and economic cooperation.
Comprehensive Economic Partnership Agreement: An agreement between India and Canada to enhance bilateral trade and economic ties.
National Infrastructure Pipeline: An initiative involving significant investments in infrastructure projects in India.
Prime Minister Mark Carney: A key individual, Prime Minister of Canada, involved in discussions with India.
T-20 Cricket World Cup: A sporting event referenced to draw parallels for India-Canada partnership dynamics.
Prime Minister's Office
English rendering of PM’s remarks during India-
Canada CEO Forum
Posted On: 02 MAR 2026 7:19PM by PIB Delhi
The Right Honourable Prime Minister Mark Carney, business leaders of both countries, ladies and
gentlemen, greetings!
I am delighted to join you all at the India-Canada CEO Forum. I extend special thanks to Prime Minister
Carney for sharing his positive thoughts.
Friends,
Today we are writing a new chapter in India-Canada relations. Prime Minister Carney has not even
completed one year in office, yet our relations have leapt forward by a light year. In recent months, trust
has grown, clarity has emerged, and new momentum has been created. And this is happening at a time
when the world is facing economic uncertainty and the global economic order is under pressure. In such
times, this dialogue among business leaders of India and Canada will prepare a new blueprint for our
partnership. I applaud your vision and commitment.
Friends,
India and Canada are vibrant democracies, two major economies of the world, and societies built on
shared values. Democracy, diversity, and development inspire us to move forward as natural partners.
Today, Prime Minister Carney and I have taken an important decision to advance our shared vision. We
are moving steadily towards raising bilateral trade to the level of 50 billion dollars. We will finalize the
Comprehensive Economic Partnership Agreement at the earliest.
But friends,
Governments can create frameworks and provide policy direction, but the power to turn that vision into
reality lies with all of you.
Friends,
Today India is the fastest growing major economy in the world. Behind this transformation is strong
domestic demand, a young population, large-scale investment, and the power of digital technology. This is
the result of our continuously running reform express. From policy simplification to production-linked
incentives, from logistics modernization to tax and bankruptcy reforms, we are strengthening ease of
doing business in every sector.
Friends,
When India and Canada stand together, we do not merely connect two economies; we create an economic
force of capital and capability. Our combined GDP is more than 6 trillion dollars. But our real strength lies
in our ambitions. To advance this shared ambition, I would like to place a few suggestions before you.
First-clean energy. This is a priority for both countries. Today we have signed a contract for long-term
supply of uranium and agreed to enhance cooperation in the nuclear sector. A short while ago, we heardthe positive thoughts of Comico CEOs. We should move forward together in small modular reactors,
advanced reactors, and the nuclear value chain. In critical minerals, we have taken steps to build resilient
supply chains. By combining Canada’s innovation with India’s scaling capability, we can advance in
batteries and energy storage. The second area is infrastructure and capital partnership.
In this year’s budget, we have made a record allocation of 130 billion dollars for infrastructure. Under the
National Infrastructure Pipeline, investments of 1.3 trillion dollars are being made. Canadian pension
funds have invested 100 billion dollars in India. This reflects deep trust. I invite you to be part of India’s
infrastructure growth story.
The third area is AI. Together we can build joint AI compute corridors. We can create AI innovation
sandboxes for startups. The fourth area is manufacturing and technology. By combining Canada’s
technology with India’s scale in electronics, aerospace, and engineering, we can strengthen global value
chains. The fifth area is food processing. Today, mega food parks, cold chains, and food testing labs are
rapidly being built in India. This too can become another strong example of our win-win cooperation.
Friends,
Our partnership should not remain confined to national capitals; we must extend it to states and provinces.
Alberta’s natural resources must be linked with Gujarat and Rajasthan’s renewable ambitions. Ontario’s
manufacturing strength must be connected with Tamil Nadu and Maharashtra’s industrial clusters.
Montreal’s tech ecosystem must be integrated with Bengaluru and Hyderabad’s innovation hubs. Only
then will we be able to transform this partnership from policy to prosperity.
Friends,
Some of you may watch cricket. Seeing Canada playing in the ongoing T-20 Cricket World Cup in India
has delighted us all. “Just like in T20 cricket with fast decisions, fearless strokes and match-winning
partnerships, India and Canada will shape the future together.” With this resolve, I invite you all to join
India’s development journey.
Thank you very much.
***
MJPS/VJ/ST
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