India-Canada Conflict: After the political fight, now the economic fight, there will be a big impact on 'these' industries
By Lokmat English Desk | Updated: September 20, 2023 12:51 IST2023-09-20T12:51:52+5:302023-09-20T12:51:52+5:30
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India-Canada Conflict: Tension between India and Canada has increased over the past few years. That is why after the political fight, now the economic fight has started. Instead of solving the problem, it is getting more complicated. This affects everything from industry to education.
India and Canada have billions of rupees invested in commodities and education. These areas can be affected. In such a situation, the education sector is likely to suffer the most. Many students from India go to study in Canada every year.
India was Canada's 10th largest trading partner in 2022. In the financial year 2022-23, India exported goods worth $4.10 billion to Canada. Canada exported goods worth 4.05 billion dollars to India during this period.
Not only this, but due to ease of trade between India and Canada, India has invested heavily. Canadian pension funds have invested $55 billion in India. While Canada has invested 4.07 billion dollars in India since 2000.
Canada's largest pension manager CPPIB invested $21 billion in India a year ago, according to Statistics Canada data. The 2.7% stake worth 96 billion rupees ($1.2 billion) has been invested by CPPIB in Kotak Mahindra Bank Limited.
Canada is the first choice for Indian students to study. About 40 percent of Canadian students are foreign students. Tensions between Canada and India continue to rise. Indian students studying in Canada and their parents are getting worried.
India and Canada trade in various commodities. Canada buys jewellery, precious stones, pharma products, ready-made garments, organic chemicals, engineering goods and iron and steel products from India. So, India imports pulses, newsprint, wood pulp, and asbestos.