CANADA INDIA TRADE RELATIONS
India always ready to conclude trade pact with low hanging fruits: Piyush Goyal on US trade deal
India is keen to finalize a trade agreement with the US by initially focusing on easily achievable aspects, according to Commerce Minister Piyush Goyal. Discussions are underway in New Delhi, with hopes of an interim deal before July 9. Both nations aim to significantly increase bilateral trade to USD 500 billion by 2030, building on the existing USD 191 billion.
Before G7 turned out to be fine on Friday...
Initially, there was anger over the Indian PM's absence from the G7 summit hosted by Canada. There were plans to criticize Canada and even propose a deal with the US. An anti-G7 manifesto was also in the works. However, Mark Carney's invitation to Narendra Modi changed everything. The author now views G7 in a positive light.
'Carney had no options': Foreign affairs expert KP Fabian on Canada's invitation to PM Modi for G7 Summit
Despite initial hesitation due to domestic political tensions stemming from the killing of a Khalistani separatist, Canada has invited Prime Minister Narendra Modi to the G7 Summit. Pressure from other G7 members, recognizing India's vital role in global trade, Indo-Pacific stability, and its status as a major economy, ultimately led to the invitation.
India hails trade deal in talks with visiting British FM
Indian Foreign Minister Subrahmanyam Jaishankar said on Saturday a trade deal with Britain was "truly a milestone" that will boost bilateral ties as he welcomed his counterpart David Lammy to New Delhi.
India central to key supply chains; must be part of G7: Canadian PM
Canadian Prime Minister Mark Carney defended inviting India to the G7 summit, emphasizing its economic significance and role in global supply chains.
India is the 5th largest economy, so it makes sense: Canada’s Mark Carney backs PM Modi’s G7 invite despite tensions
Canadian Prime Minister Mark Carney has defended his decision to invite Prime Minister Narendra Modi to the G7 Summit, stating it "made sense" given India's economic stature and global role. Despite ongoing tensions over the killing of Sikh activist Hardeep Singh Nijjar, Carney stressed that diplomacy is necessary for advancing national interests. The move sparked criticism from Sikh groups, but Carney underscored India's strategic value and noted progress in law enforcement dialogue between the two countries.
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Had a fruitful meeting with UK Foreign Secretary David Lammy: Piyush Goyal
Union Minister Piyush Goyal and UK Foreign Secretary David Lammy convened to enhance bilateral trade and fortify collaboration across sectors, aiming to fully realize their Comprehensive Strategic Partnership. Both leaders lauded the progress in finalizing the historic India-UK FTA, anticipating a significant boost to their growing relationship.
Look forward to PM Modi's visit to Canada for G7: Former MP Chandra Arya
Chandra Arya anticipates Narendra Modi's Canada visit for the G7 Summit. He emphasizes shared values between India and Canada. Arya views India as a crucial partner for Canada. Mark Carney highlights India's essential presence at the G7. Discussions will cover security and energy. PM Modi acknowledged the invitation from his Canadian counterpart.
PM Modi at G7: Is Carney undoing Trudeau's Khalistan policy?
Narendra Modi G7 summit: Canadian Prime Minister Mark Carney's invitation to Modi for the G7 summit signals a shift in Canada-India relations, contrasting with Trudeau's strained approach following the Nijjar killing. Carney emphasizes law enforcement dialogue and downplays the Khalistan issue, prioritizing national interests over domestic politics. This move aims to salvage Canada's foreign policy from being influenced by fringe political considerations.
Would be my pleasure to welcome PM Modi for G7: Former Canada MP Chandra Arya calls India "indispensable partner"
Chandra Arya welcomes Narendra Modi to Canada for the G7 meeting. He highlights shared values and India's global importance. Mark Carney emphasizes India's essential presence at the G7 summit. Discussions will cover security, energy, and digital future. India's role in supply chains makes its participation crucial.
India is fifth largest economy, their presence at G7 meeting 'makes sense': Canadian PM Mark Carney
Canadian Prime Minister Mark Carney announced that the upcoming G7 summit in Canada will address critical issues like energy, security, and digital infrastructure. He emphasized India's essential role in these discussions, citing its status as the world's fifth-largest economy and most populous nation. Prime Minister Modi accepted Carney's invitation to attend, signaling a potential thaw in relations after recent tensions.
Canada tables 'One Canadian Economy' Bill to boost domestic trade and infrastructure
Prime Minister Mark Carney's government introduced Bill C-5, the "One Canadian Economy" bill, aiming to dismantle interprovincial trade barriers and expedite infrastructure project approvals. This initiative seeks to unify Canada's internal market, addressing trade tensions with the U.S. The bill targets federal obstacles to trade and labor mobility, potentially boosting the Canadian economy by $200 billion annually.
Canadian thaw! Mark Carney invites PM Modi for G7 meet
Prime Minister Narendra Modi will attend the G7 Summit in Canada later this month, following an invitation from newly elected PM Mark Carney, signaling improved bilateral relations. The summit in Kananaskis, Alberta, from June 15-17, offers Modi a platform to address cross-border terrorism.
PM Modi to attend G7 summit after receiving invitation from Canada's Mark Carney
Prime Minister Narendra Modi has accepted the invitation from Canadian Prime Minister Mark Carney to attend the 51st G7 summit in Kananaskis, Canada. Modi congratulated Carney on his recent election victory and expressed optimism about strengthening ties between India and Canada. Both leaders anticipate working together with renewed vigor, guided by mutual respect and shared interests, at the upcoming summit.
EU, India will beat expectations by wrapping up FTA talks early: Piyush Goyal
India and the European Union are working to finalize the Free Trade Agreement talks before the deadline. Piyush Goyal met Maros Sefcovic multiple times to speed up negotiations. India-Italy bilateral trade is currently suboptimal. India proposed an industrial enclave for Italian companies in India. The aim is to boost trade, investment, and tourism between the two nations.
Mark Carney in dire straits: After job crisis, Canada now faces record trade deficit due to Trump's auto tariffs
Canada's trade deficit reached a record high in April. This was due to a sharp decline in automobile exports to the United States. Donald Trump's tariffs on Canadian auto, steel, and aluminum sectors caused this drop. Canada's trade surplus with the US also decreased. However, trade with other countries like China and the UK increased.
Trump's new move could hammer India’s factories, and wreck exports and jobs
President Trump's decision to double tariffs on steel and aluminum imports to 50% has sparked global trade concerns, particularly for India's export sector, which faces potential job losses and revenue declines. While the UK secured an exemption, India is considering retaliatory measures and seeking a similar waiver amid ongoing trade negotiations with the US.
India, US push to finalise interim tariff deal as Trump's deadline nears
Indian and U.S. officials are engaged in high-level discussions this week, aiming to finalize an interim trade deal with tariff cuts in agriculture and automobiles. An announcement is expected later this month, potentially before President Trump's July 9 deadline. India, encouraged by recent trade agreements, is carefully considering U.S. demands, balancing economic opportunities with potential domestic impact.
Centre keeps tabs on Trump tariff concessions to other nations
An American delegation will arrive in India to negotiate a bilateral trade deal amid legal uncertainties over Trump’s tariffs. The US aims to use baseline and suspended tariffs to secure concessions. India seeks to boost imports of shale gas, LNG, and crude oil from the US to diversify and reduce trade imbalance. The deal’s outcome will influence India’s response to tariff hikes.
Stephen Harper, former Canadian PM, urges parties to cut ties with Khalistani separatist groups targeting India
Former Canadian Prime Minister Stephen Harper urged Canadian political parties to sever ties with separatist groups aiming to disrupt India's unity, particularly criticizing the Khalistani movement as a fringe element. He emphasized the importance of a unified stance against divisive forces to foster strong Canada-India relations.
EU FTA to be comprehensive, not interim: Officials
India and the EU are negotiating a comprehensive free trade agreement. It will not include an early harvest deal. Discussions are ongoing regarding Geographical Indications. Investment protection is also being discussed. Both sides are addressing concerns like the EU's carbon border adjustment mechanism. India may impose retaliatory duties if the EU imposes a carbon tax.
India not invited at G7 meet in Canada 'yet another big diplomatic bungle': Congress
The Congress party has criticized the exclusion of India from the upcoming G7 summit in Canada, labeling it a significant diplomatic failure. They contrasted this with previous G8 summits where former Prime Minister Manmohan Singh was invited and his voice was valued.
PM Modi unlikely to attend upcoming G7 summit in Canada
Prime Minister Narendra Modi is unlikely to attend the upcoming G7 summit in Canada due to strained relations between the two countries following allegations of India's involvement in the killing of Hardeep Singh Nijjar.
India should adopt a dual-track approach to protect its agri exports to US: NITI Aayog working paper
A NITI Aayog paper suggests India adopt a dual approach to US agricultural trade. This involves offering tariff concessions on certain US commodities while undertaking structural reforms to enhance the competitiveness of India's farm sector. The paper recommends strategic interventions, including tariff adjustments and non-tariff measures, to protect domestic interests and promote exports.
Modi not likely to attend G7 summit this year, his first miss since 2019
Narendra Modi is unlikely to attend the G7 summit in Canada due to strained relations over Khalistan separatists and the unresolved Nijjar assassination accusations. Canada has not formally extended an invitation, and logistical issues, potential disruptions, and diplomatic tensions make Modi's attendance improbable.
India urges swift revival of WTO dispute system to protect fair trade rules: Piyush Goyal
Commerce and Industry Minister Piyush Goyal emphasised the urgency of restoring the WTO's dispute resolution mechanism to uphold its core principles. A mini-ministerial WTO meeting is scheduled for June 3 to discuss strengthening multilateral trade and reforms.
Canada scrambles to strike a deal as Ontario trade envoy races to stop Trump tariffs before G7 summit
Despite escalating trade tensions and recent tariff hikes, Ontario's trade representative remains optimistic about resolving disputes with the U.S. He emphasizes proactive engagement with Republican lawmakers and highlights Canada's importance as a key trading partner. With the G7 Summit approaching, there's hope for progress in securing better access to the U.S. market for Canada.
Khalistani issue casts a shadow on Indo-Canada ties once again
India-Canada relations may face strain again. This follows an invitation to Punjabi singers, including Jazzy B, to the British Columbia assembly. Jazzy B is known to support Khalistan. A British Columbia MLA posted a video showing admiration for Jazzy B. India is monitoring the situation. The presence of Khalistani figures in the assembly has sparked controversy.
Prime Minister Mark Carney welcomes US court ruling striking down Trump’s tariffs, calls it a “vindication” of Canada’s trade position
Mark Carney hails US court's decision against Donald Trump's tariffs on Canada. The court deemed the tariffs unlawful. Carney notes the ruling supports Canada's stance. He cautions that trade relations face ongoing threats from other US protectionist measures. Candace Laing emphasizes the need for a durable trade agreement. The Trump administration has appealed the ruling.
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