Finance Minister to leave for 8-day official trip to Canada, US; focus on deepening bilateral ties

New Delhi: Finance Minister Nirmala Sitharaman will embark on an official visit to Canada and the US from August 25 to September 2 to hold talks on bilateral economic and financial cooperation, investment opportunities and global economic priorities, besides participating in the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.

During the first leg of her visit to Toronto, Sitharaman will participate in the inaugural Economic and Financial Dialogue with Canada's Finance and National Revenue Minister Francois-Philippe Champagne, the Finance Ministry said in a statement.

The dialogue is expected to cover macroeconomic developments, financial sector cooperation, bilateral investment opportunities and shared international priorities, while strengthening the economic and financial pillar of the renewed India-Canada partnership, it said.


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In recent months, the two sides have discussed cooperation in areas such as energy, critical minerals, technology, innovation and resilient supply chains, along with ongoing efforts towards a Comprehensive Economic Partnership Agreement (CEPA).

Sitharaman will also participate in an investment roundtable with leading business representatives from sectors including energy, artificial intelligence and critical minerals to facilitate greater business-to-business linkages and identify investment opportunities, including in GIFT City-IFSC.

She will also engage with senior Canadian business leaders at another roundtable, with senior managing directors and chief executive officers of Indian public sector banks participating in the discussions to explore greater financial-sector collaboration and investment linkages.

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Sitharaman will hold one-to-one meetings with Canadian company CEOs and senior executives on India's growth prospects, investment opportunities and avenues for expanding Canadian business presence in India.

Besides, she will also interact with the Indian diaspora in Toronto.

The US leg of the visit will cover Chicago, Asheville and New York from August 28 to September 2.

In Chicago, Sitharaman will participate in an investor roundtable and meet with CEOs and senior representatives of private-sector companies to discuss India's investment opportunities, economic outlook, and ways to strengthen business partnerships.

She will also visit the Polsky Centre for Entrepreneurship and Innovation at the University of Chicago to exchange views on entrepreneurship, innovation, technology commercialisation and linkages with India's startup ecosystem, the finance ministry said.

The Finance Minister will then travel to Asheville, North Carolina, where she will lead the Indian delegation at the G20 FMCBG meeting under the US presidency of the grouping on August 31 and September 1, it said.

The meeting will bring together finance ministers, central bank governors and senior economic officials of G20 members to deliberate on key global economic and financial issues.

India's participation in the G20 Finance Track will provide an opportunity to advance its perspectives on global economic growth and stability, international financial cooperation and challenges confronting emerging and advanced economies, the statement said.

In New York, Sitharaman will participate in an investor roundtable and hold one-to-one meetings with senior executives and CEOs from the financial sector to discuss India's economic and financial landscape and ways to strengthen financial and institutional linkages, it said.

She will also participate in the bell-ringing ceremony at NASDAQ, where she is expected to gain insights into developments in technology-driven financial markets and the evolving interface between technology and capital markets.

The visit comes amid efforts to deepen India's economic engagement with Canada and the US and attract greater foreign investment into the country, it added.