Page 50 - Policy Economic Report - November 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

banking system, high foreign exchange reserves, robust infrastructure expansion and a vibrant capital
market. He noted that India’s stock market has grown nearly four-and-a-half times in the last 11 years,
reflecting investor confidence in the Indian economy.

He said that India’s development model rests on macroeconomic stability, inclusive and sustainable
growth and welfare measures that ensure 140 crore citizens participate in the nation’s progress. He added
that India is powered by a young, skilled and aspirational population, and that the country’s economic
momentum is set to remain strong for decades.

Shri Goyal proposed a five-pronged approach to further strengthen India–Canada relations. He
emphasised the need to convert dialogue into delivery through actionable outcomes, sectoral roadmaps
and measurable progress. He called for revitalising the CEO Forum to enhance business-to-business
partnerships and urged Canadian participation in India’s upcoming AI Summit. He encouraged joint
innovation, noting India’s strong IPR regime, large datasets and cost-effective innovation environment,
supported by the recently announced USD 12 billion fund for research and development.

The Minister said that both countries should identify focused areas of collaboration, including critical
minerals, clean energy, aerospace, defence and manufacturing under the Make in India programme. He
said Canadian innovation combined with Indian capabilities can create significant opportunities for both
nations.

Shri Goyal invited Canadian businesses to partner in India’s journey toward becoming a developed nation
by 2047. He said that India offers a stable, transparent and opportunity-rich environment for long-term
collaboration and expressed confidence that the India–Canada partnership will continue to grow stronger
in the years ahead.

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Research, analysis & compilation by:

Economic Policy & Planning Team - FIPI

Email: pankhuri@fipi.org.in

Note: The information contained herein is compiled from various sources considered reliable, but its
accuracy and completeness are not warranted, nor are the opinions and analyses that are based on it. FIPI
is not responsible for any errors or omissions, nor shall it be liable for any loss or damage incurred by
reliance on information or any statement contained herein. While reasonable care has been exercised to
ensure that no copyrights are infringed, in case there is any omission or oversight in this regard, we may
please be informed immediately.

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