Bengaluru (Karnataka) [India], October 16 (ANI): India's agricultural sector could benefit from Canadian fertilisers and potash to improve crop yields and farming efficiency, said Maninder Sidhu, Canadian Minister of International Trade, adding Fairfax wants to invest more in India.
Addressing a press conference on Canada-India Commercial Agreements, Sidhu said, the Fairfax-IDBI deal “is the largest deal between our two countries in the financial sector and that sends a clear signal to the supply chains that Canada is ready to do more.”
India on Tuesday approved the sale of a 60.7 per cent stake in IDBI Bank to Fairfax Financial Holdings. Further adding that Fairfax has invested heavily in Bangalore International Airport, he said, the company “wants to do more in this country.”
Highlighting opportunities for bilateral trade, the Canadian minister said India's agricultural sector could benefit from Canadian fertilisers and potash to improve crop yields and farming efficiency.
“A lot of farmers here in India can use Canadian fertilizer and potash to help grow more yields, to help be more efficient in farming...and here in the state, we're seeing a lot of demand for aerospace,” he said.
Indian and Canadian entities signed several commercial agreements and Memoranda of Understanding (MoUs) on Friday in the presence of Canada's Minister of International Trade, Maninder Sidhu, as both countries reaffirmed their commitment to concluding negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026.
The fifth round of CEPA negotiations was held in Ottawa from October 5 to 9, covering key areas such as market access for goods and services, investment, rules of origin, intellectual property rights and trade remedies. The next round of talks is scheduled to take place in New Delhi in early November.
The proposed trade pact aims to reduce trade barriers and improve market access for businesses in both countries. According to government data, India-Canada bilateral trade stood at USD 7,956.43 million in FY26.
Official estimates suggest that the agreement could increase bilateral trade by USD 4.4 billion to USD 6.5 billion (CAD 6 billion to CAD 8.8 billion) and boost Canada's GDP by USD 3.8 billion to USD 5.9 billion (CAD 5.1 billion to CAD 8 billion) by 2035.
As per government data, India's exports to Canada rose from USD 4.22 billion in FY25 to USD 4.67 billion in FY26. India exported 5,517 different commodities to Canada during FY26, highlighting the diversified nature of its export basket and growing Canadian demand for Indian goods.
In 2025, two‑way merchandise trade between Canada and India reached USD 10.9 billion that comprised of USD 3.9 billion in Canadian exports and USD 7.0 billion in imports from India. Also, Foreign Direct Investment (FDI) equity inflow from April 2000 to March 2026 totalled Rs. 31,204.9 crore (USD 4.34 billion). (ANI)
India's agriculture sector can benefit from Canadian fertilisers, Fairfax keen to expand investments: Canada Trade Minister
