India-Canada Reset: Energy, Infrastructure, Advanced Manufacturing Key To Canada PM Carney’s Visit

Last Updated:February 26, 2026, 09:37 IST

Bilateral goods trade between India and Canada stood at $13.3 billion in 2024, with India ranking as Canada’s seventh-largest trading partner.

Prime Minister Mark Carney will reach India late on February 26, with Mumbai as the first leg of his visit. The trip is expected to focus heavily on trade and investment, particularly in energy, infrastructure and advanced manufacturing, as Ottawa looks to reset ties with New Delhi.

Energy transition and large-scale infrastructure financing are set to dominate discussions. Canadian institutional investors, including pension funds, sovereign funds and asset managers, have committed an estimated C$108 billion to India, making it one of the largest destinations for Canadian capital in the Indo-Pacific. There is growing emphasis on solar and wind power, green hydrogen production, renewable energy grids and data centres.

Brookfield Corporation alone accounts for roughly C$43 billion in India, with assets across roads, commercial offices, hospitality, renewables and digital infrastructure. It is also expanding data centre operations and has been active in telecom tower transactions. Engineering firms such as Hatch Ltd., Stantec and AtkinsRéalis are involved in industrial design, manufacturing systems and infrastructure planning.

Canadian pension funds have significant exposure in India’s infrastructure space. OMERS has invested in transport and infrastructure, Fairfax Financial Holdings has links to Bengaluru airport, and Quebec’s Caisse de dépôt et placement du Québec has committed around US$10 billion across infrastructure and renewables. Collectively, Canadian sovereign and pension capital represents about US$30.9 billion in long-term institutional exposure across roads, airports, energy corridors and logistics networks.

Bilateral goods trade stood at $13.3 billion in 2024, with India ranking as Canada’s seventh-largest trading partner. Canadian exports totalled $5.4 billion last year, while Export Development Canada supported 401 customers in India through financing and insurance. Nearly 400 Canadian companies maintain a physical presence in India.

Tushar Hadiekar, Vice President, Structured & Project Finance at Export Development Canada (EDC), told CNN-News18 in Ottawa that renewable energy systems and infrastructure build-out remain key areas of expansion. He said Canada can support India’s focus on roads, ports, airports and potential rail privatisation, drawing from similar projects undertaken in the UK and Australia.

Hadiekar added that Canada exports significant volumes of pulses and cereals, which require supporting infrastructure such as storage, warehouses and cold storage facilities in India. He also pointed to opportunities in advanced technologies, automotive manufacturing, electric vehicles and battery supply chains, including critical minerals required for the EV value chain.

With deep pension capital integration and a large Indian diaspora in Canada, policymakers increasingly see the India-Canada relationship as structural and long-term, with capital flows playing a central role in shaping the reset.

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