Now Reading: India is fastest-growing major economy, Sitharaman tells Canadian investors
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India is fastest-growing major economy, Sitharaman tells Canadian investors
India is fastest-growing major economy, Sitharaman tells Canadian investors
Finance Minister Nirmala Sitharaman told Canadian investors in Toronto that India, the world’s fastest-growing major economy, offers a combination of scale, sustained growth, a young population, expanding consumption and rapidly deepening capital…
Finance Minister Nirmala Sitharaman told Canadian investors in Toronto that India, the world’s fastest-growing major economy, offers a combination of scale, sustained growth, a young population, expanding consumption and rapidly deepening capital markets that is "difficult to match."
Addressing the Indian business community, Sitharaman said India’s structural transformation is driven by urbanisation, a growing middle class and world-class digital infrastructure. She highlighted the Unified Payments Interface as the world’s largest real-time payments system by volume, creating collaboration opportunities with Canadian banks, fintech firms and regulators.
Sitharaman noted that the bilateral partnership, reset at the G7 summit in June 2025 between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney, now includes formal CEPA negotiations and a CAD 2.6 billion uranium supply deal with Cameco. The two countries aim to more than double bilateral trade to CAD 70 billion by 2030.
Indian Opinion Analysis
Sitharaman’s pitch lands amid a major push by both governments to rebuild trade and diplomatic ties after several years of friction, including the 2023 rupture over allegations involving Sikh separatists. The Canada Pension Plan Investment Board and other large Canadian funds already have significant exposure to Indian equities and infrastructure, so the call to deepen engagement targets both new capital and a reset of institutional trust. The CEPA talks, launched during Carney’s India visit, are set to face their next formal negotiating round before the end of 2026, tangible movement on tariff reductions and investment protection rules will signal whether the ambition of doubling bilateral trade is realistic.
Source: newindianexpress.com
This brief was synthesised by AI from the source linked above.
