AIRLINK 78.39 Increased By ▲ 5.39 (7.38%)
BOP 5.34 Decreased By ▼ -0.01 (-0.19%)
CNERGY 4.33 Increased By ▲ 0.02 (0.46%)
DFML 30.87 Increased By ▲ 2.32 (8.13%)
DGKC 78.51 Increased By ▲ 4.22 (5.68%)
FCCL 20.58 Increased By ▲ 0.23 (1.13%)
FFBL 32.30 Increased By ▲ 1.40 (4.53%)
FFL 10.22 Increased By ▲ 0.16 (1.59%)
GGL 10.29 Decreased By ▼ -0.10 (-0.96%)
HBL 118.50 Increased By ▲ 2.53 (2.18%)
HUBC 135.10 Increased By ▲ 2.90 (2.19%)
HUMNL 6.87 Increased By ▲ 0.19 (2.84%)
KEL 4.17 Increased By ▲ 0.14 (3.47%)
KOSM 4.73 Increased By ▲ 0.13 (2.83%)
MLCF 38.67 Increased By ▲ 0.13 (0.34%)
OGDC 134.85 Increased By ▲ 1.00 (0.75%)
PAEL 23.40 Decreased By ▼ -0.43 (-1.8%)
PIAA 26.64 Decreased By ▼ -0.49 (-1.81%)
PIBTL 7.02 Increased By ▲ 0.26 (3.85%)
PPL 113.45 Increased By ▲ 0.65 (0.58%)
PRL 27.73 Decreased By ▼ -0.43 (-1.53%)
PTC 14.60 Decreased By ▼ -0.29 (-1.95%)
SEARL 56.50 Increased By ▲ 0.08 (0.14%)
SNGP 66.30 Increased By ▲ 0.50 (0.76%)
SSGC 10.94 Decreased By ▼ -0.07 (-0.64%)
TELE 9.15 Increased By ▲ 0.13 (1.44%)
TPLP 11.67 Decreased By ▼ -0.23 (-1.93%)
TRG 71.43 Increased By ▲ 2.33 (3.37%)
UNITY 24.51 Increased By ▲ 0.80 (3.37%)
WTL 1.33 No Change ▼ 0.00 (0%)
BR100 7,493 Increased By 58.6 (0.79%)
BR30 24,558 Increased By 338.4 (1.4%)
KSE100 72,052 Increased By 692.5 (0.97%)
KSE30 23,808 Increased By 241 (1.02%)

NEW DELHI: Trade talks between India and Canada have taken a hit as tension rises after Prime Minister Justin Trudeau said authorities were investigating “credible allegations” linking New Delhi’s agents to the murder of a Sikh separatist leader.

On Tuesday, New Delhi dismissed the allegations as “absurd”, and asked Canada instead to crack down on anti-India elements operating in its territory.

Here is what is at stake for both countries:

How are trade talks affected?

Canada said this month it had paused talks on the proposed treaty with India, just three months after both said they aimed to seal an initial pact this year.

Industry estimates show the Comprehensive Economic Partnership Agreement (CEPA) between Canada and India could boost two-way trade by as much as $6.5 billion, yielding a GDP gain of $3.8 billion to $5.9 billion for Canada by 2035.

What are they key items of trade?

Steady growth has seen goods trade rising to $8 billion in 2022, with Indian exports to Canada touching $4 billion and imports from Canada also worth $4 billion.

India’s growing demand for imported lentils has benefited Canadian farmers, while Indian pharmaceutical and software companies have expanded their presence in the Canadian market.

Major imports from Canada include energy products such as coal, coke and briquettes, besides fertilizers, while India exports consumer goods, garments, engineering products such as auto parts, aircraft equipment, and electronic items.

What is the investment position?

Canada is India’s 17th largest foreign investor, pouring in more than $3.6 billion since 2000, while Canadian portfolio investors have invested billions of dollars in Indian stock and debt markets.

The Canadian pension fund, CPP, has increased its investment in Indian markets to about $15 billion, in areas such as real estate, renewables, and the financial sector by the end of last fiscal year in March 2023.

How have corporates benefited?

More than 600 Canadian companies, including Bombardier and SNC Lavalin, have a strong presence in India, while more than 30 Indian companies, such as infotech majors TCS, Infosys, Wipro have invested billion of dollars in Canada, creating thousands of jobs.

What is the role of indian students in Canada?

Since 2018, India has been the largest source country for international students in Canada.

In 2022, their number rose 47% to nearly 320,000, accounting for about 40% of total overseas students, the Canadian Bureau of International Education says, which also helps universities and colleges provide a subsidised education to domestic students.

What are the implications for sikhs?

Many analysts say the worsening ties could affect the economic interests of thousands of Sikh families in India’s Sikh-majority state of Punjab in the north, since they have relatives in Canada, who remit millions of dollars back home.

The share of Canada’s Sikh population has more than doubled in 20 years, to 2.1%, according to the country’s 2021 census, as large number of Sikhs have migrated from India in search of higher education and jobs.

Comments

Comments are closed.

KU Sep 19, 2023 10:30pm
Actually nothing is at stake, maybe justice, but Canada will eventually kiss up to trade n wise up, this has historically been witnessed time and again.
thumb_up Recommended (0)
TidBit Sep 20, 2023 12:35am
This is just vote bank politics. Some noise here and there, and eventually everything will be back to normal.
thumb_up Recommended (0)
U2 Sep 20, 2023 02:03pm
Canada should stop issuing visas to Indian...just last year..80,000 Indian students arrived in Canada...more entering legally and illegally from USA!
thumb_up Recommended (0)