New Delhi, March 3: The Apparel Export Promotion Council (AEPC) has welcomed the strengthening of India-Canada relations and the resumption of talks on the Comprehensive Economic Partnership Agreement (CEPA). The council believes this will lead to a significant boost in apparel exports to Canada.
AEPC Chairman Dr. A. Shaktivel stated that signing the CEPA could potentially double exports to Canada over the next three years. Additionally, it will create substantial opportunities for investment and job creation.
He emphasized that this comprehensive trade framework would provide a solid economic foundation for enhancing bilateral trade and revitalizing investments based on mutual economic strength.
Currently, India’s apparel exports to Canada stand at approximately $250 million.
The AEPC also welcomed Canadian Prime Minister Mark Carney’s visit to India and his address at the CEO Forum with Prime Minister Narendra Modi. The council noted that both nations reiterated their shared commitment to strengthening economic cooperation and advancing the mutually beneficial CEPA.
Dr. Shaktivel remarked, “This partnership presents a significant opportunity for sustainable energy production, allowing India to emerge as an ethical and responsible sourcing destination.”
According to the industry organization, robust relations will facilitate technology transfer, research and development (R&D) partnerships, and promote AI and automation. This will assist the industry in increasing production and adhering to global standards more effectively.
The AEPC Chairman also highlighted the importance of skilling and talent mobility in strengthening people-to-people ties between India and Canada.
In New Delhi, Canada and India announced a ‘Strategic Energy Partnership,’ under which Canadian company Cameco will supply approximately 2.2 million pounds of uranium for India’s civilian nuclear reactors from 2027 to 2035.
A recent report indicates that the Canadian government aims to link the CEPA with a target to more than double trade between the two countries to reach $70 billion by 2030.
According to an official statement, Prime Minister Modi and his Canadian counterpart also discussed restoring the number of diplomatic staff in both countries to previous levels.
Since Mark Carney became Prime Minister of Canada, balanced steps have been taken to normalize India-Canada relations. In this context, Dinesh K. Patnaik has been appointed as India’s High Commissioner to Canada.
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