Ottawa: Mark Carney, the newly elected leader of Canada’s Liberal Party and the incoming Prime Minister, has pledged to rebuild the country’s trade relationship with India. Carney, a former central banker, secured a landslide victory in the leadership race with 85.9% of the vote, replacing Justin Trudeau, who announced his resignation in January. Trudeau will remain in office until Carney is officially sworn in over the coming days.
As Canada navigates economic uncertainties, including US President Donald Trump’s trade policies and annexation threats, Carney has emphasized the need to expand trade partnerships with “like-minded” nations. Addressing the media in Calgary, Alberta, he said, “What Canada will be looking to do is to diversify our trading relationships with like-minded countries, and there are opportunities to rebuild the relationship with India.”
Carney highlighted the importance of shared values in fostering commercial ties between the two nations. “There needs to be a shared sense of values around that commercial relationship, and if I am Prime Minister, I look forward to the opportunity to build that,” he stated.
His remarks come at a time when India-Canada relations have been strained due to diplomatic tensions under Trudeau’s leadership. Carney’s commitment to re-engagement signals a potential shift in Canada’s foreign policy toward India.
Carney brings a deep understanding of India’s economic landscape, having served as the chair of Brookfield Asset Management’s board until January 2025. Brookfield, a global investment giant, has been highly optimistic about India, managing around $30 billion in assets across key sectors, including real estate, infrastructure, renewable energy, private equity, and special investments.
