Amid Trump Tariff Tensions, Canadian PM Mark Carney Visits India; Trade & Investment Talks In Focus

Mumbai: Canada’s Prime Minister Mark Carney is coming to India on the invitation of Prime Minister Narendra Modi. He will be in India from 27 February to 2 March. This will be his first official visit to the country.

The visit is seen as an important step to improve ties between India and Canada after relations became tense during former PM Justin Trudeau’s tenure.

Why this visit matters?

In recent months, tensions between the United States and Canada have increased. US President Donald Trump imposed tariffs on sectors like steel, aluminium and automobiles. This has put pressure on the Canadian economy.

Because of these trade tensions, Canada is looking to strengthen ties with other major markets. India is one of the key countries in this strategy. Carney’s visit signals a fresh effort to rebuild and strengthen economic cooperation with India.

Meetings in Mumbai and Delhi

Mark Carney took office in early 2025 after winning the Liberal Party leadership contest and the federal election following Trudeau’s resignation.

He will arrive in Mumbai on 27 February and attend several business meetings. During his visit, he will interact with CEOs, industry leaders, financial experts, innovators and educators. He is also expected to meet representatives of Canadian pension funds operating in India.

On 1 March, Carney will travel to New Delhi. On 2 March, he will meet Prime Minister Narendra Modi at Hyderabad House. Discussions will focus on trade and investment, energy, critical minerals, agriculture, education, research and innovation.

Strong trade ties

India and Canada share long-standing trade relations. Despite recent political tensions, trade between the two countries has continued to grow.

According to a GTRI report, bilateral trade was USD 8.3 billion in FY2022-23. It increased to USD 8.4 billion in FY2023-24 and reached around USD 8.8 billion in FY2024-25. In FY2025-26, trade slightly declined to about USD 7.2–7.5 billion.

What do the two countries trade?

India exports gems and jewellery, pharmaceuticals, ready-made garments, machinery, organic chemicals, light engineering goods, iron and steel to Canada.

In return, India imports paper, wood pulp, potash, copper, minerals, iron scrap and industrial chemicals from Canada.