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Experts say the diplomatic row between Canada and India could derail a trading relationship that already “woefully underperforms its potential.”
Partha Mohanran, director of the India Innovation Institute at the University of Toronto, says Canada’s decision to expel New Delhi’s top envoy and five other diplomats is a new low in the relationship between the two countries.
He says it will have a negative impact on Canadian businesses trying to gain a foothold in India, and vice versa.
Mohanran says this is a problem because India is the fastest-growing economy in the world, and Canada is already failing to take full advantage of the opportunity that exists there.
In 2022, Canada exported $5.3 billion worth of goods to that country in 2022, or just 0.7 per cent of global exports, according to Statistics Canada.
Mohanran said that is a small fraction of the trade Canada could be doing in India, but he said the current diplomatic situation means efforts to grow the economic relationship between the two countries will likely be shoved to the back burner for now.
This report by The Canadian Press was first published Oct. 15, 2024.
The Canadian Press
