Indo-Canadian Economic Relations: Are They Really Improving?

Abstract

India and Canada are the economic partners both in terms of trade; FDI and aid. Their economic relations are on the rise. But when the span of time is taken into account, the economic relations are not commensuration with the potential and opportunities of both countries. The current volume of trade (5.2 billion Canadian dollars) and investment (4.9 billion Canadian dollars) are at the low ebb when compared with other trading and investment partners. India is in need of a lot of commodities especially, natural gas. Canada and India have set a trade target of CA$15 billion by the end of 2015. Could it be a reality or remain myth? This paper argues that it is a right time to analyze the existing trends in Indo- Canadian economic relations and further explore the new areas of economic vistas. The paper is to examine the existing trends and possibility of achieving the target of CA$15 billion and also to explore new areas of cooperation so that the target can be materialized by India and Canada in respect of trade and investment.

Keywords:

• International trade partners
• bilateral trade
• foreign assistance
• Free Trade Agreement
• Atlantic Gateway
• competitiveness

Additional information

Notes on contributors

Badar Alam Iqbal

Prof. Badar Alam Iqbal is the Fellow at German Institute of Economic Research, Berlin; Kiel Institute of World Economics, Kiel, South Asia Institute, University of Heidelberg; Germany. Ford Foundation, USA; Fulbright Visiting Professor; US; Institute of Developing Economies, Tokyo. Fulbright Visiting Professor, USA. Adjunct Professor, Monarch Business School, Monarch University, Switzerland; Visiting Professor at University of Rennes1, France; University of South Africa, Jonesburg; International Islamic University, Malaysia; AIMA Accredited Management Professor, New Delhi; International Accredited Organization's Professor, USA; Chief Associate Editor-in-Chief; International Journal of Management and Innovation, Taiwan; Member Advisory Board, Africa and Brazilian Studies; Editor-in-Chief, Advances in Arts and Social Sciences, Nigeria; Member, Global Council of Peer Reviewers, USA; Chief Reviewer, Global Journal of Strategy and Governance, Canada; Reviewer of World Finance Congress, Brazil. The Federal Government of Brazil has awarded a Fellowship to Prof. Dr. Iqbal. European Commission has sanctioned a Scholarship for three month to visit Warsaw University, Poland; in 2014.