‘India is the world’s fastest-growing major economy’: Canadian PM Mark Carney in Mumbai to forge partnerships and unlock new opportunities

MUMBAI: Upon his arrival in the financial capital, Canadian Prime Minister Mark Carney, accompanied by his wife Diana Fox Carney, highlighted the immense economic potential of the host nation, noting its position as a global leader in growth.

Taking to the social media platform X to mark the start of his inaugural official visit to India, PM Carney emphasised the strategic importance of the trip for Canada’s economic future. “India is the world’s fastest-growing major economy,” he posted.

The Canadian leader, joined by a high-level delegation, outlined his immediate agenda in Mumbai, which focuses on deepening commercial ties. “We just arrived in Mumbai to meet with business leaders — and forge partnerships that will unlock new opportunities for Canadian workers and businesses”, he added.

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. pic.twitter.com/cBC33uqscd

— Mark Carney (@MarkJCarney) February 27, 2026

Upon their arrival at the airport on Friday, the delegation was received by Jaykumar Rawal, the Maharashtra Minister of Protocol and Marketing. Randhir Jaiswal, the spokesperson for the Ministry of External Affairs (MEA), highlighted that the arrival represents a major milestone in bolstering the relationship between the two nations.

Taking to X, Jaiswal stated, “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”. He further noted that the partnership is anchored in shared democratic values, strong people-to-people ties, and expanding cooperation across diverse sectors.

This visit is the first by a Canadian head of government since the tenure of the previous administration under Justin Trudeau, during which bilateral relations faced challenges. The current trip indicates a renewed effort to find common ground and enhance both diplomatic and financial ties.

According to a press release from the Canadian Prime Minister’s Office, PM Carney is scheduled to hold meetings with prominent corporate leaders in Mumbai before heading to New Delhi on March 2 for significant talks with PM Narendra Modi.

The official statement mentioned, “The leaders will focus on elevating and expanding the Canada-India relationship with ambitious new partnerships in trade, energy, technology and artificial intelligence, talent and culture, and defence. He will also meet with business leaders to identify investment opportunities in Canada and create new partnerships between businesses in both nations.”

While in the capital, PM Carney will also participate in the India-Canada CEOs’ Forum. The Canadian PMO noted that in 2024, India was Canada’s seventh-largest trading partner, with bilateral trade valued at USD 30.8 billion. This synergy builds upon previous dialogue at the G20 Summit in Johannesburg last November, where PM Modi emphasised that India intends to achieve a bilateral trade milestone of USD 50 billion by the year 2030.

Following that meeting, PM Modi shared on X, “We have set a target of USD 50 billion by 2030 for our bilateral trade. Canadian pension funds are also showing keen interest in Indian companies”. He added that there is immense potential for the two countries to enhance their investment and trade connections.

This diplomatic momentum follows a recent meeting between Canadian Foreign Minister Anita Anand and External Affairs Minister S Jaishankar during the Munich Security Conference. A Canadian government release noted that this marked their fifth meeting since September 2025, reflecting building momentum.

Minister Anand “affirmed the shared technological benefits and significant partnership opportunities for both countries’ businesses, industries and workers”. Both nations reiterated their commitment to broadening trade in support of economic resilience and stability. (ANI)