Canadian Prime Minister Mark Carney on Tuesday said that Canada is working on a free trade deal with India that could open new business opportunities and would be a game-changer for Canadian workers and businesses.
India-Canada Free Trade Deal
In a post on X, Carney said he met the Indian Minister of Commerce, Piyush Goyal, to discuss and explore the growth prospects for both countries, particularly in energy, agri-food, tech, and education.
Canadian PM wrote, "We're negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market."
Rubio's Visit to India
US Secretary of State Marco Rubio held a meeting with Indian Prime Minister Narendra Modi and External Affairs Minister Subrahmanyam Jaishankar over the weekend in New Delhi. The top levels have engaged in discussions on trade, energy, defense, maritime security and tensions in the Middle East, according to a report from News18, an Indian television network.
Rubio described India as an ‘important strategic partner' and expressed optimism that the two countries will soon finalize a long-awaited trade agreement, which fell apart due to Trump's tariff on India. "India-US relations have not lost momentum … India-US relations will come out much stronger in the coming years," Rubio said.
He also said that progress has been made in easing tensions around the Strait of Hormuz, which accounts for nearly half of India’s crude oil imports.
ETFs in Focus
The recent developments have put India ETFs such as iShares MSCI India ETF (BATS:INDA), Franklin FTSE India ETF (NYSE:FLIN), and iShares India 50 ETF (NASDAQ:INDY) in focus. These funds provide broad exposure to the Indian stock market.
| ETFs | Index Tracking | AUM | Expense Ratio |
| INDA | MSCI India Index | $6.7 B | 0.61% |
| FLIN | FTSE India RIC Capped Index | $2.5 B | 0.19% |
| INDY | Nifty 50 Index | $561.7 M | 0.65% |
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