Prime Minister Narendra Modi on Monday articulated India's formal stance on the escalating tensions in West Asia, emphasizing the necessity of peace and diplomatic engagement. Speaking in New Delhi, the Prime Minister noted that India's position remains clear amidst global conflicts, consistently advocating for the cessation of hostilities. He described the current situation in West Asia as a matter of deep concern and stressed that solutions must be sought through dialogue rather than military escalation.
PM Modi Calls for Peace and Dialogue in West Asia
Addressing the volatile situation involving Iran, Israel, and the United States, Prime Minister Modi stated that India has always prioritized global stability. He emphasized that the ongoing conflict in West Asia requires immediate attention and a shift toward diplomatic negotiations. According to the Prime Minister, the safety of the Indian diaspora in the region remains a top priority for the government. He affirmed that India will continue to work closely with all international partners to ensure the security and well-being of its citizens residing in the affected areas.
India and Canada Target $50 Billion Trade by 2030
Parallel to the geopolitical discussions, Prime Minister Modi held a high-level bilateral meeting with Canadian Prime Minister Mark J. Carney. The leaders focused on deepening economic ties and enhancing strategic cooperation. Prime Minister Modi announced an ambitious roadmap to increase bilateral trade between India and Canada to $50 billion by the year 2030. He highlighted that tapping into the full potential of economic cooperation is a primary objective for both nations, aiming to create a solid framework for future growth.
Finalizing the Comprehensive Economic Partnership Agreement
In a significant move to bolster commercial relations, New Delhi and Ottawa have decided to expedite the finalization of a Comprehensive Economic Partnership Agreement (CEPA). Prime Minister Modi informed that this agreement is expected to be concluded in the near future. The CEPA is designed to streamline trade processes, reduce tariffs, and facilitate a smoother exchange of goods and services, while according to official statements, this agreement will open new avenues for investment and generate substantial employment opportunities in both India and Canada.
Canadian Pension Funds Invest $100 Billion in India
During the joint press briefing, the Prime Minister highlighted the significant role of Canadian institutional investors in India's economy. He noted that Canadian pension funds have already invested approximately $100 billion in various sectors across India. Prime Minister Modi characterized this massive capital inflow as a testament to the global confidence in India's long-term growth story and economic reforms. This investment is seen as a crucial component in developing India's infrastructure and supporting its industrial expansion.
Strengthening Economic Cooperation Through Business Leadership
The bilateral talks also included discussions on transforming the current engagement into a next-level partnership. Prime Minister Modi mentioned that interactions with business leaders from both countries would provide essential insights for shaping the future of economic cooperation. The suggestions from the private sector are expected to help both governments refine their policies to support a more integrated economic environment. The focus remains on building a resilient partnership that spans technology, energy, and sustainable development.