Toronto: Indian finance minister Nirmala Sitharaman is scheduled to make a two-day visit to Canada later this month and, along with the Canadian counterpart, she will participate in the inaugural Economic and Financial Dialogue between the two countries.
On August 27, she will hold a bilateral meeting with Canada’s Minister of Finance and National Revenue François-Philippe Champagne, as they will jointly launch the sectoral dialogue, one of the several verticals that have been activated including that on law enforcement and security. Patnaik pointed out there is a solid foundation to work with, as Canadian investors, mainly pension funds have over CA$ 100 billion placed in India. That sentiment is likely to be reciprocated by their Indian investors, as India will be a participant at the Canada Investment Summit being hosted by Carney in Toronto next month. The two FMs will engage in a discussion being hosted by the Canadian Club Toronto, with the theme, Canada and India: Advancing Shared Economic Interests. “These visits matter: they build real momentum in the corridor, lay the groundwork for a comprehensive economic partnership agreement, and set the table for a bilateral visit by Prime Minister (Narendra) Modi later this year, something we haven’t seen in over a decade. Canadian business leaders will have the opportunity to engage with India’s Finance Minister at exactly the right moment,” he added.
India’s High Commissioner to Ottawa Dinesh Patnaik said the visit will be “great” for continuing to impart impetus to the relationship, which has been renewed after Prime Minister Mark Carney assumed charge in March 2025. Moderated by C-IBC president and CEO Victor Thomas, the discussion will look at the “opportunity to deepen investment, strengthen trade and build new partnerships across key sectors” and “explore where the greatest opportunities lie, what is needed to give businesses and investors greater confidence, and how economic cooperation can help reinvigorate the broader bilateral relationship”. Thomas said, “Minister Sitharaman’s visit is her first to Canada as Finance Minister, and she joins a remarkable roster of senior Indian officials engaging with Canada in recent months. Vina Nadjibulla, co-founder and CEO of the Centre for Strategic Statecraft, a Canadian foreign policy think tank, concurred, as she said Sitharaman’s “visit is another sign of the deliberate, step-by-step deepening of Canada–India relations”.
