 "'Bilateral trade with Canada not very large': India downplays impact of diplomatic spat on trade relations")
A day after Ottawa linked India’s high commissioner and other diplomats to the murder of Khalistani separatist Hardeep Singh Nijjar on its soil, India on Tuesday said bilateral trade with Canada is “not very large” and New Delhi does not see the diplomatic spat having any immediate impact on trade relations.
Relations between the countries worsened after Canada on Monday linked India’s high commissioner and other diplomats to Nijjar’s killing on its soil and accused New Delhi of a broader effort to target Indian dissidents in Canada.
India, however, denied the accusations, describing them as part of Canadian Prime Minister Justin Trudeau’s “political agenda”.
“We are not immediately concerned about trade ties. Our bilateral trade with Canada is not very large,” Reuters quoted a government source as saying.
“We expect (Canadian) funds to make investment decisions based on returns and India offers attractive returns at the moment,” the source added.
Bilateral trade between India and Canada rose to $8.4 billion by the end of the last fiscal year on March 31, up from $8.3 billion the previous year, as reported by India’s trade ministry.
This growth took place despite tensions that began last year when Prime Minister Trudeau accused India of being involved in the murder of Nijjar.
India’s imports from Canada include minerals, pulses, potash, industrial chemicals, and gemstones.
Impact Shorts
More ShortsAccording to sources, Canadian investments, which have totaled over $54 billion in India, are unlikely to change due to the ongoing dispute.
According to a Reuters report, citing Indian foreign ministry, more than 600 Canadian companies operate in India across sectors such as IT, banking, and financial services, with over 1,000 actively seeking opportunities in the Indian market.
On Monday, the Royal Canadian Mounted Police (RCMP) also accused India of using organised crime to target its South Asian community, specifically naming the Bishnoi group, led by Lawrence Bishnoi, who is currently imprisoned in India.
Bishnoi’s lawyer said the matter would be probed by investigation agencies, adding: “Whatever is there, it will be revealed”.
With inputs from agencies
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