India, Canada Target $50 Billion Trade By 2030

New Delhi: After a key bilateral meeting with Canadian Prime Minister Mark Carney in Johannesburg late on Sunday evening, Prime Minister Narendra Modi announced that India and Canada have set a target of $50 billion in bilateral trade by 2030 and will also deepen cooperation in the defence sector.

Modi posted: “Had a very productive meeting with Prime Minister Mark Carney of Canada. We appreciated the significant momentum in our bilateral ties since our earlier meeting held during the G7 Summit hosted by Canada. We agreed to further advance our relations in the coming months, particularly in trade, investment, technology and innovation, energy and education. … Canadian pension funds are also showing keen interest in Indian companies. We also agreed to unlock the potential for deeper cooperation in defence and space sectors and meet again in the near future.”

India-Canada ties have seen a dramatic resurgence over the past few months after a prolonged period of strain during the tenure of former Canadian PM Justin Trudeau. Modi and Carney had also met on Saturday at a trilateral discussion with Australian Prime Minister Anthony Albanese, where the three leaders announced the Australia-Canada-India Technology and Innovation (ACITI) Partnership. Last week, the Indian and Canadian foreign ministers held talks in New Delhi as well.

Following the G20 Summit, Modi held a series of bilateral meetings on Sunday evening (IST) in Johannesburg, including with newly appointed Japanese Prime Minister Sanae Takaichi and Italian Prime Minister Giorgia Meloni. Earlier in the day, he met South African President and summit host Cyril Ramaphosa. Modi later departed for New Delhi on a special flight.

His meeting with Takaichi was the first with Japan’s first woman prime minister and came less than three months after his visit to Tokyo. Modi posted on X: “Had a productive meeting with Prime Minister Sanae Takaichi of Japan. We discussed ways to add momentum to cooperation in innovation, defence, talent mobility and more. A strong India-Japan partnership is vital for a better planet.” The meeting took place amid severely strained China-Japan ties over Taiwan, even as India’s relations with Beijing have improved notably in the past year.

Modi also held a “very good meeting” with Italian Prime Minister Giorgia Meloni. The two leaders, known for their positive rapport, reaffirmed that the India-Italy strategic partnership is growing from strength to strength.

In his meeting with South African President Cyril Ramaphosa, the two leaders reviewed bilateral ties and expressed satisfaction over progress in areas such as trade and investment, food security, skill development, mining, youth exchange and people-to-people contacts. They discussed enhancing cooperation in AI, Digital Public Infrastructure and critical minerals, and welcomed increased Indian investment in South Africa. Both leaders agreed to encourage mutual investments in infrastructure, technology, innovation, mining and start-ups.

Modi also thanked President Ramaphosa for the relocation of South African cheetahs to India and invited him to join the International Big Cat Alliance. Both leaders agreed to work together to amplify the voice of the Global South.