India seeks early conclusion of FTA with Canada

Mumbai: India has sought Canada''s help in early conclusion of a free trade agreement with it and said the pact would bring a new era of economic relations between the two countries.

This was conveyed by India''s new high commissioner to Canada, R L Narayan.

The envoy said the present environment offers a window of opportunity for India and Canada to further strengthen and diversify their trade and economic cooperation.

"We believe that it is mutually rewarding for India and Canada to work towards a strategic partnership," Narayan said while addressing members of the Indo-Canada Chamber of Commerce in Toronto.

"Indo-Canada relations are at the threshold as both countries are committed to boosting trade and investment, cooperation in the field of science and technology, including environment-friendly technologies, as also mutual investments," he said.

Narayan said the economic engagement between India and Canada, both in terms of trade and investment, has a huge untapped potential, even though Canada has done well in exporting various goods to India. Canada''s exports to India have increased close to 21 per cent last year compared to the previous year, he said.

"It seems the momentum is building up. The challenge is to sustain this momentum. I believe, in the last 20 months, we''ve had some very encouraging engagements between India and Canada to push things along," he said.