Despite the crisis in relations between India and
Canada, trade ties appear to have remained stable and, in fact, improved
slightly in 2024 over 2023.
In 2024, bilateral trade in goods totaled CA$ 11.36 billion
(approximately ₹69,368 crore). In 2023, the figure was CA$ 10.74 billion (about ₹65,723 crore).
The volume of merchandise trade increased by over 64% in 2024 from 2020,
when it totaled CA$ 7.63 billion (approximately ₹42,139
crore), according to data from
Statistics Canada, the country’s data agency.
A trade dashboard posted by India’s Consulate in
Toronto gave similar data but for the period January to November, and stated
that it “indicates a moderate increase”.
The top five categories of exports from India to Canada include
medicaments, articles of jewellery, smartphones, seafood and diamonds. The
major imports into India include peas, bituminous coal, lentils, potassium
chloride and newsprint.
Of course, the figures remain underwhelming but noteworthy given the
cratering of the relationship since Canadian Prime Minister Justin Trudeau’s
statement in the House of Commons on September 18, 2023, that there were “credible allegations” of a
potential link between Indian agents and the killing of pro-Khalistan figure
Hardeep Singh Nijjar in Surrey, British Columbia, three months earlier.
Ties deteriorated further in October last year, when India withdrew six diplomats and officials
from Canada after Ottawa accused them of being linked to violent criminal
activity in the country. New Delhi has
dismissed the allegations and also expelled six Canadian diplomats in October.