India and Canada hold Foreign Office Consultations, carrying forward 'sustained momentum' in bilateral ties

New Delhi, September 2 (IANS): India and Canada on Wednesday held the annual Foreign Office Consultations (FOC) which the Ministry of External Affairs (MEA) said carried forward the sustained momentum in bilateral relationship witnessed since June 2025.

The Indian delegation was led by MEA's Secretary (East) Rudrendra Tandon while Deputy Minister of Foreign Affairs Arun Thangaraj headed the visiting team from Global Affairs Canada during the talks held at New Delhi's Hyderabad House.

"The FOC was held against the backdrop of sustained momentum in the bilateral relationship, reflected in the pace of high-level exchanges and progress in various areas of bilateral cooperation since June 2025. Both sides reaffirmed the importance of India-Canada ties, anchored in shared democratic values, respect for principles of sovereignty and territorial integrity, and joint commitment to the rule of law," read a statement issued by the MEA.

"The two sides reviewed progress of various institutional mechanisms, including in energy and critical minerals, science and technology, education, security and defence cooperation, culture, people-to-people ties and consular matters. Both sides welcomed the progress made in strengthening of institutional engagement and dialogue between the two governments," it added.

The MEA further said that both sides reiterated their shared commitment to conclude the Comprehensive Economic Partnership Agreement negotiations before end of year, with the shared objective of more than doubling bilateral trade to CAD 70 billion/INR 4.65 lakh crore by 2030.

On Friday, Finance Minister Nirmala Sitharaman said that India and Canada have an opportunity to deepen financial-sector cooperation and build long-term investment partnerships, as she highlighted the complementarity between the two economies.

Addressing a high-level India-Canada Business Roundtable in Toronto in the presence of Canadian Finance and National Revenue Minister Francois-Philippe Champagne, FM Sitharaman said India brings scale, growth and opportunities, while Canada offers long-term capital, institutional depth and expertise.

"FM Sitharaman highlighted the fresh momentum in India–Canada economic engagement and called for translating it into deeper financial-sector cooperation and long-term investment partnerships," the Ministry of Finance said.

The Finance Minister highlighted the fresh momentum in India-Canada economic engagement and called for translating it into stronger financial cooperation and greater investment partnerships between the two countries.

FM Sitharaman outlined India's reform-led transformation over the past decade, saying measures including the Asset Quality Review, Insolvency and Bankruptcy Code, the 4R approach and EASE reforms have strengthened the country's banking system.

"India and Canada are now exploring how digital technologies can further strengthen our financial cooperation, including easier payments, cross-border remittances and greater digital payment choices for citizens," FM Sitharaman said.

"A strong foundation for a deeper and more people-centric India-Canada partnership," the finance minister added.