Responding to questions from the media in Calgary, Alberta, over the tariffs imposed upon Canada by the US, on Tuesday, Carney said, “What Canada will be looking to do is to diversify our trading relationships with like-minded countries and there are opportunities to rebuild the relationship with India.”
“There needs to be a shared sense of values around that commercial relationship and if I’m Prime Minister, I look forward to the opportunity to build that,” he added.
Carney, who has been Governor of the Bank of Canada and the Bank of England, is favoured to win the leadership race to replace Trudeau as Canada’s next Prime Minister.
That process is scheduled to be completed on Sunday. However, though Carney will become the Liberal leader at that point, there may be a lag before he becomes the PM.
During the course of a press conference, in Ottawa, on Tuesday, Trudeau said, “That will be up to a conversation between the new leader and myself to figure out how long a transition is needed.”
“It should happen reasonably quickly. But there’s a lot of things to do in a transition like this, particularly at this complicated time,” he added.
Carney should be familiar with India’s economy as he was chair of the board of Brookfield Asset Management till January this year. Brookfield has been bullish on India and has approximately $30 billion assets under management in India across its strategies in real estate, infrastructure, renewable power & transition, private equity and special investments, a spokesperson for the company told the Hindustan Times.
Carney’s statement was welcomed by Ritesh Malik, chair of the Canada-India Foundation or CIF. He said, “Carney as a seasoned economist and his experience with Brookfield knows the economic importance of this relationship. I feel his top priority will be foreign policy with trade and commerce in mind, and everything from current scenario would be only upwards for Canada-India.”
Malik felt given Carney’s “global perspective and recognition of strategic geopolitical importance” India, “it’s plausible that his leadership could introduce a fresh approach to Canada-India relations, potentially fostering stronger economic and strategic ties between the two nations.”
Relations between India and Canada cratered following Trudeau’s statement in the House of Commons on September 18, 2023 there were “credible allegations” of a potential link between Indian agents and the killing of pro-Khalistan figure Hardeep Singh Nijjar three months earlier in Surrey, British Columbia. month earlier, Canada had paused negotiations on an Early Progress Trade Agreement or EPTA, which till then, both countries had been optimistic about finalizing in 2023 prior to the bilateral breakdown.
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