Canadian Prime Minister Mark Carney and Reliance Industries Chairman Mukesh Ambani have held high-level discussions in Mumbai to forge a massive strategic partnership between India’s largest private enterprise and Canadian businesses.

The meeting, which took place on February 28, is part of Ottawa’s aggressive new mission to double bilateral trade with India and secure significant investments for the Canadian economy.

In a statement released Tuesday, Prime Minister Carney emphasized that collaborating with Reliance Industries holds the potential to strengthen both nations' economies and create high-paying careers in critical sectors.

The discussions specifically targeted three pillars of future cooperation: energy, critical minerals, and cutting-edge technology.

"Canada is on a mission to double our trade with India," Carney stated, noting that the partnership aims to make both economies more resilient against global shifts.

The engagement with Ambani served as a centerpiece of Carney’s first official visit to India, which concluded on March 2.

Following his Mumbai stay, the Canadian leader traveled to New Delhi for bilateral talks with Prime Minister Narendra Modi at Hyderabad House.

The two heads of state reviewed the progress of the India-Canada Strategic Partnership and set an ambitious target of reaching USD 50 billion in bilateral trade by the year 2030.

In a landmark diplomatic achievement, India and Canada formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) on Monday.

The Terms of Reference for the pact were signed by Union Commerce Minister Piyush Goyal and Canada’s Minister of International Trade Maninder Sidhu in the presence of both Prime Ministers.

This agreement is expected to provide the legal and economic framework necessary to facilitate the large-scale industrial partnerships discussed between Carney and the Reliance chairman.

Source: ANI