Prime Minister Narendra Modi said that India and Canada have set an ambitious target of USD 50 billion in bilateral trade by 2030, following his meeting with Canadian Prime Minister Mark Carney. The leaders discussed measures to strengthen trade, investment, technology and innovation ties between the two nations.

The leaders, who met on the sidelines of the G20 Summit in Johannesburg, agreed to further the bilateral ties in several sectors.

In a post on X, he said, “Had a very productive meeting with Prime Minister Mark Carney of Canada. We appreciated the significant momentum in our bilateral ties since our earlier meeting held during the G7 Summit hosted by Canada. We agreed to further advance our relations in the coming months, particularly in trade, investment, technology and innovation, energy and education.”

“India and Canada have great potential in strengthening trade and investment linkages. We have set a target of 50 billion USD by 2030 for our bilateral trade. Canadian Pension Funds are also showing keen interest in Indian companies. We also agreed to unlock the potential for deeper cooperation in defence and space sectors and meet again in the near future,” he added.

The leaders welcomed the launch of the Australia-Canada-India Technology and Innovation (ACITI) Partnership, aimed at boosting trilateral cooperation in critical technologies, nuclear energy, AI and supply chain diversification. They also acknowledged the positive momentum in relations since their June 2025 meeting in Kananaskis on the sidelines of the G7 Summit and the rollout of the New Roadmap for bilateral engagement by the Foreign Ministers in October 2025, the Ministry of External Affairs said.

During the meeting, the two Prime Ministers discussed collaboration in trade and investment, defence, education, space, energy, and science and technology. Prime Minister Carney also extended support for the AI Summit scheduled to be hosted by India in February 2026, according to the MEA.