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Mahesh

09/03/22 19:00 PM IST

India and Canada to hold 5th Ministerial Dialogue on Trade and Investment (MDTI)

In News

  • The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Government of Canada will be visiting New Delhi from 10-13 March to hold 5th India – Canada Ministerial Dialogue on Trade & Investment (MDTI).
Details 
  • The meeting will be co-chaired by Shri Piyush Goyal, Minister of Textiles, Minister of Commerce and Industry and Minister of Consumer Affairs, Food and Public Distribution.
  • During the MDTI meeting various bilateral trade and investment issues will be discussed in order to further strengthen the bilateral ties and economic partnership including India-Canada Comprehensive Economic Partnership Agreement (CEPA).
  • There has been a strong recovery in bilateral trade in 2021 after the fallout as a result of the COVID-19 pandemic, with bilateral trade in goods reaching US$ 6.29 billion registering a growth rate of 12% as compared to the previous year.
  • Total bilateral trade including goods and services crossed US$ 11 billion.
  • In current financial year during April 2021-January 2022, Indian exports to Canada have increased to US$ 3 billion approx. registering a growth of  almost 25% over the previous year.
Major Indian Exports 

  • Major Indian exports to Canada include drugs and pharmaceutical products, iron & steel products, marine products, cotton fabrics & readymade garments (RMG) and chemicals etc, while key Canadian exports to India comprise pulses, fertilizers, coal and crude petroleum etc.
Source- PIB 

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