Modi: India, Canada will deepen maritime cooperation

Modi: India, Canada will deepen maritime cooperation

India and Canada to Strengthen Maritime Cooperation Amid Expanding Economic Ties

Prime Minister Narendra Modi and Canadian leaders have reaffirmed commitments to deepen maritime cooperation, aligning with broader efforts to enhance economic and strategic partnerships. This focus comes as bilateral trade reaches new heights, with two-way goods and services trade totaling $30.9 billion in 2024, positioning India as Canada's seventh-largest trading partner.

A key driver of this collaboration is Canada's Indo-Pacific strategy, which emphasizes energy security and infrastructure development. Canada's significant oil reserves—over 165 billion barrels—and growing Indian demand for liquefied natural gas (LNG) highlight the potential for maritime trade expansion. India imports 85% of its crude oil needs and is projected to remain a major energy importer through 2040, while Canada's west coast LNG infrastructure is well-positioned to meet this demand.

Trade negotiations are also advancing. The 7th Ministerial Dialogue on Trade and Investment in 2025 underscored priorities such as supply chain diversification in critical minerals, clean technology, and advanced manufacturing. Canada's merchandise exports to India rose 3.3% in 2024, with key sectors including agricultural products, wood pulp, and fertilizers. Conversely, India supplied pharmaceuticals, machinery, and electronics to Canada, reflecting complementary economic strengths.

Strategic alignment extends to institutional frameworks. Discussions to finalize a Comprehensive Economic Partnership Agreement (CEPA) could double bilateral trade over a decade, leveraging India's $4 trillion economy and Canada's $2.2 trillion economy. Additionally, security cooperation has expanded, including intelligence-sharing and law enforcement frameworks to address transnational challenges.

The Indian diaspora in Canada—over 1.8 million people—further strengthens ties, contributing to innovation, education, and capital flows. With energy, technology, and trade partnerships gaining momentum, maritime cooperation is poised to anchor a more resilient and diversified Canada-India economic relationship.

Canada-India relations, 2025: Canada-India relations, 2025.
India–Canada Relations: From Rupture to Strategic Rebalancing, ORF, 2025: India–Canada Relations: From Rupture to Strategic Rebalancing, ORF, 2025.