Trade with Canada stays unimpacted amid row

The diplomatic tensions between India and Canada, so far, have not impacted the bilateral trade in goods between the two countries.

The bilateral merchandise trade between India and Canada actually grew slightly from $8.3 billion in 2022-23 to $8.4 billion in 2023-24. In 2023-24, India’s imports from Canada rose to $4.6 billion, while exports saw a marginal dip, falling to $3.8 billion.

India exports goods such gems, jewellery and precious stones, pharmaceutical products, ready-made garments, mechanical appliances, organic chemicals, light engineering goods, iron and steel articles to Canda. While, it imports pulses, newsprint, wood pulp, asbestos, potash, iron scrap, copper, minerals and industrial chemicals.

These figures suggest that, at least for now, economic ties remain stable, unaffected by the diplomatic storm brewing in the background, according to think tank Global Trade Research Initiative(GTRI).

It is worth noting that the relations between India and Canada hit a new low as Canada on Monday when Canadian Prime Minister Justin Trudeau accused India of supporting violent criminal activity on its soil.