India World's Fastest Growing Major Economy: Canadian PM Mark Carney

(MENAFN- IANS) Mumbai, Feb 27 (IANS) Canadian Prime Minister Mark Carney on Friday called India as “world’s fastest-growing major economy” and expressed readiness to forge partnerships that will unlock new opportunities for Canadian workers and businesses.

Sharing a video of his arrival in Mumbai on X, Carney wrote, “India is the world’s fastest-growing major economy. We just arrived in Mumbai to meet with business leaders - and forge partnerships that will unlock new opportunities for Canadian workers and businesses.”

Carney, accompanied by his wife Diana Fox Carney, arrived in Mumbai on Friday for his first official visit to India from February 27 to March 2. Maharashtra’s Minister of Protocol and Marketing, Jaykumar Rawal received him at the airport.

Carney is scheduled to participate in business engagements in Mumbai and interact with Indian and Canadian CEOs, industry and financial experts, innovators, educators as well as Canadian Pension Funds based in India.

“A warm welcome to Prime Minister Mark Carney of Canada as he arrives in Mumbai on his first Official Visit to India. The visit marks a significant step in further strengthening India–Canada ties,” Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal posted on X.

“He was received by Minister of Protocol and Marketing, Government of Maharashtra, Shri Jayakumar Rawal at the airport. The India–Canada partnership is anchored in shared democratic values, strong people-to-people ties, and expanding cooperation across diverse sectors,” he added.

After completing his engagements in Mumbai, Carney will arrive in New Delhi on Sunday evening. He is scheduled to hold delegation-level talks with Prime Minister Narendra Modi at the Hyderabad House on March 2.

“Both leaders will review the progress achieved till date across diverse areas of the India – Canada Strategic Partnership, building on their earlier meetings in Kananaskis (June 2025) and Johannesburg (November 2025). They will also take stock of ongoing cooperation in key pillars including trade and investment; energy; critical minerals; agriculture; education, research, and innovation; and people-to-people ties,” the MEA stated earlier.

The two leaders will also exchange views on regional and global developments besides attending the India–Canada CEOs Forum in New Delhi.

“The visit comes at an important juncture in normalization of India-Canada bilateral relations. The two Prime Ministers have earlier agreed to pursue a constructive and balanced partnership grounded in mutual respect for each other’s concerns and sensitivities, strong people-to-people ties, and growing economic complementarities. The forthcoming meeting between the leaders will provide an opportunity to reaffirm the positive momentum and shared vision of India and Canada in building a forward-looking partnership,” the MEA reflected.

In a statement released ahead of his arrival in Mumbai, the Canadian Prime Minister’s Office stated that India is the world’s fastest-growing major economy and a powerhouse in global commerce and technology. India was Canada’s seventh-largest goods and services trading partner in 2024, with two-way trade reaching $30.8 billion.

PM Modi met Carney on the sidelines of the G20 Summit in Johannesburg last November, where he noted that India has set a target of 50 billion USD by 2030 for bilateral trade between the two countries. Prime Minister Modi mentioned that India and Canada have great potential in strengthening trade and investment linkages.

“We have set a target of 50 billion USD by 2030 for our bilateral trade. Canadian Pension Funds are also showing keen interest in Indian companies,” he posted on X after the meeting.

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