India-Canada CEPA to boost growth
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New Delhi: The proposed Comprehensive Economic Partnership Agreement between India and Canada gains huge leverage from the complementary nature of both countries’ economies, a new report has said.
The report from Asian News Post highlighted that India’s fast growing consumer market, strength in services sector and manufacturing push pairs perfectly well with Canada’s resource base, advanced research and clean technology expertise.
This complementary nature creates a natural basis for mutually beneficial economic cooperation in renewable energy, critical minerals and technology exchange.
The CEPA could boost bilateral trade to $50 billion by 2030 and increase investment, strengthen supply chains, and promote innovation-driven partnerships.
"Canada can support India’s increasing demand for energy, critical minerals, and agricultural inputs, while India can give Canadian companies access to a large consumer market, a skilled workforce, and competitive manufacturing capabilities," the report said.
"The revival of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between India and Canada marks both countries advancing toward pragmatic collaboration driven by shared economic interests and shifting global trade dynamics," it added.
