Why Canadian Prime Minister Carney’s visit to India could mark a turning point in bilateral and trade ties – explained – The Times of India

Canadian Prime Minister Mark Carney’s upcoming visit to India could prove to be a turning point in bilateral ties between the two countries after three years. Carney will be in India from February 27 to March 2, 2026.Ties between the two countries had deteriorated sharply in September 2023 following allegations over India’s role in the assassination of a Khalistan leader in Canada, which also led to the suspension of negotiations on a proposed free trade deal. The visit comes at a time when India has signed several free trade agreements in the past year. A trade deal with the US has also been announced, reducing tariffs on Indian exports to 18%. However, the fate of the deal remains uncertain after the US Supreme Court lifted reciprocal tariffs imposed by Donald Trump’s administration.

Bilateral ties between India and Canada restored

According to a report by the Global Trade Research Initiative (GTRI), Carney’s visit is expected to have two major outcomes: the most important of which could be the formal revival of free trade agreement negotiations between India and Canada. The two sides may also express a political commitment to complete the agreement within a specified time frame.“Both countries have strong economic reasons to make progress: Canada wants to diversify trade beyond its heavy dependence on the United States, while India seeks stable markets and secure access to energy and essential minerals,” notes GTRI founder Ajay Srivastava.Bilateral trade between India and China has been showing consistent growth. In 2025, this amounted to approximately $7.8 billion. Indian exports amounted to approximately $4.5 billion and included pharmaceuticals, gems and jewelry, textiles and machinery. Canadian exports amounted to approximately $3.3 billion and consisted mainly of pulses, timber, pulp and paper, and mining-related products.Since the two countries trade largely complementary goods rather than competing products, an FTA could significantly expand trade and investment, especially in agricultural food, clean energy, critical minerals, etc., GTRI says.Another major development from the visit could be the conclusion of a long-term uranium supply agreement aimed at supporting the expansion of India’s nuclear power sector. For Canada, such an arrangement would provide a stable and reliable export market for uranium outside the United States.The importance of the agreement is further enhanced by the recent reforms in India’s nuclear sector under the SHANTI Act of 2025, which are aimed at attracting foreign technology partners and accelerating the deployment of advanced reactors and small modular reactors. A reliable supply of uranium from a trusted partner would be essential to support the planned expansion of reactor capacity.

Mark Carney’s visit to India: what’s on the agenda?

India has said that the upcoming talks between Prime Minister Narendra Modi and Mark Carney are expected to help strengthen a forward-looking partnership between the two countries.Carney will embark on a four-day trip to India on Friday, his first official visit to the country since becoming prime minister.The main purpose of the visit is to inject new energy into bilateral relations. The Canadian leader will first travel to Mumbai, where he will attend a series of business-related events and interact with prominent representatives of Indian and Canadian industries, financial professionals and innovators.He will then reach New Delhi on Sunday, with extensive talks between the two prime ministers scheduled for Monday.According to the Ministry of External Affairs, the two leaders will review progress made in various sectors under the India-Canada Strategic Partnership, building on their previous interactions in Kananaskis in June last year and Johannesburg in November.The ministry noted that the visit comes at an important stage in the process of restoring normal ties between India and Canada.