India, Canada ink six pacts
India and Canada have signed six agreements in different fields including nuclear science, energy cooperation, sports, education, science and technology cooperation and information communication technology.
These agreements were signed after delegation-level talks between Prime Minister Narendra Modi and his visiting Canadian counterpart Justin Trudeau in New Delhi.
Agreements signed are
- MoU on Cooperation in Sport.
- MoU for Cooperation in Higher Education.
- MoU for Cooperation on Intellectual Property Rights.
- Terms of Reference for the India-Canada Ministerial Energy Dialogue.
- MoU for cooperation in the Fields of Science, Technology and Innovation.
- Joint Declaration of Intent on Cooperation in the Field of Information Communications Technology and Electronics.
India-Canada share strategic partnership underpinned by shared values of democracy and pluralism. It has significantly expanded in recent years aided by heightened economic engagement, regular high level interactions and long-standing people-to-people ties.
Canada is home to over 1.2 million Persons of Indian Origin (PIO) who comprise more than 3% of its population. The highly educated, affluent and industrious PIOs is one of largest immigrant groups in Canada. They are well integrated with mainstreamand also active politically.
The two-way trade between both countries has increased from US $3.21 billion in 2010 to US $6.05 billion approximately in 2016. India accounts for only 1.95% of Canada’s global trade. India exports to Canada include gems, jewellary and precious stones, pharmaceutical products, readymade garments, textiles, organic chemicals, light engineering goods, iron & steel articles, etc. India’s import from Canada include pulses, newsprint, wood
pulp, asbestos, potash, iron scrap, copper, minerals and industrial chemicals, etc. The cumulative Indian FDI was US$ 2093.53 million as against Canadian FDI of US$ 901.1693 million in India. Indian companies have invested especially in the IT, software, steel and natural resources sectors etc.