Diplomatic conflict between India and Canada: no impact on bilateral trade in goods so far

Diplomatic tensions between India and Canada have so far had no impact on bilateral trade in goods between the two countries, think tank GTRI said on Monday. However, he added that as this dispute drags on, both countries will need to carefully manage their actions to avoid serious economic fallout. Bilateral merchandise trade between India and Canada actually increased slightly from USD 8.3 billion in 2022-23 to USD 8.4 billion in 2023-24. India’s imports from Canada increased to USD 4.6 billion, while exports saw a slight decline, falling to USD 3.8 billion. “These figures suggest that, at least for now, economic ties remain stable, unaffected by the diplomatic storm brewing in the background,” the statement said. “For now, the resilience of trade between India and Canada highlights an important lesson: diplomatic tensions, while damaging, do not always spell disaster for economic relations. But as this dispute drags on, both countries will need to carefully manage their actions to avoid a