Budget 2024

Tax and spend fiscal plan will inhibit growth

Canadian business leaders welcome the agreement to relaunch negotiations on the Canada-India Comprehensive Economic Partnership Agreement (CEPA) and support efforts to secure an Early Progress Trade Agreement as a transitional step. 

We also welcome talks on securing a bilateral investment agreement, which will help provide certainty as more Canadian companies pursue growth opportunities in the Indo-Pacific.   

Simply put, there is no path to a successful Indo-Pacific strategy without going through India – projected to soon become the world’s most populous country with one of the fastest growing economies.  

In an increasingly volatile world, Canadian businesses are looking toward India for opportunities to trade, invest and grow. Many of Canada’s competitors are moving quickly to enhance trade ties, including in the near term, to ensure their businesses have a clear advantage in this critical market. With today’s announcement, Canada is well-positioned to be one of the first advanced economies to secure an agreement with India.

The Business Council looks forward to working with the Government of Canada on making this a success. In the coming months, we will release a study highlighting Canada’s performance to date in the market, as well as how an agreement with India will improve the living standards of all Canadians.