Deepening economic ties with Canada’s seventh largest trading partner
OTTAWA, ON, Nov. 20, 2025 /PRNewswire/ — Export Development Canada (EDC) is celebrating the 20th anniversary of its in-market presence in India, marking two decades of strengthening trade and economic ties between Canada and India. This milestone reflects EDC’s commitment to helping Canadian companies succeed in one of the world’s fastest growing economies.
“As we mark the anniversary of EDC’s operations in India, we celebrate a partnership that has brought benefits to both countries over time. EDC’s presence on the ground has been instrumental in connecting Canadian innovation with India’s dynamic opportunities. Together, we will advance our shared priorities in food security, energy transformation, and supply chain resiliency to build a stronger economic future.” said The Honourable Maninder Sidhu, Minister of International Trade.
Over the past five years, bilateral trade between Canada and India has grown by over 30% to $13.3 billion in 2024. India is one of the most important markets in the fast-growing Indo-Pacific region and is a strategic destination for Canada as it focuses on trade diversification. With a population of 1.5 billion, nearly two-thirds under 35, and a GDP of US$3.8 trillion growing at 6.6% annually, India is the world’s fifth-largest economy and an increasingly vital partner for Canadian exporters. Last year, Canada-India bilateral trade in goods and services reached $30.9 billion, making India Canada’s seventh-largest trading partner.
“We are committed to deepening Canadian trade and investment in India across key sectors such as agri-food, advanced manufacturing, clean technology, automotive, critical minerals and digital technologies,” said Todd Winterhalt, Senior Vice-President, International Markets at EDC. “For 20 years, Canadian and Indian businesses have developed a robust trade ecosystem built on lasting partnerships such as EDC’s long-standing relationships with India’s leading conglomerates including Tata Group, Aditya Birla Group and Reliance Industries. These companies are part of EDC’s Market Leader Partnership Program, which provides structured financing and strategic support to facilitate Canadian exporters’ access to global supply chains. Through such partnerships, we help boost bilateral trade and economic cooperation between our two economies.”
EDC in India: 20 years of impact and growth
Since establishing its first representation in New Delhi in 2005 and expanding to Mumbai in 2007, EDC has facilitated more than $37.9 billion in trade and investment between Canada and India. This represents a 176% increase over two decades, underscoring the sustained momentum and strategic importance of India as an export market. Throughout this period, EDC has worked alongside its federal partners as part of Team Canada to advance shared priorities and help Canadian companies succeed in India. Currently, India is Canada’s second-largest export market for services and 10th for goods, with total exports reaching $21.5 billion last year.
In 2024 alone, EDC supported more than 400 Canadian customers in India, facilitating over $1.4 billion in business. Many Canadian companies active in the region operate in high-growth sectors such as clean technology, agri-food, advanced manufacturing, automotive and electric vehicles, and the digital economy.
“Being on the ground in India gives us a front-row view of the country’s rapid growth, entrepreneurial spirit and drive for innovation,” said Nathan Nelson Andrew, Regional Vice-President for South and Southeast Asia. “India’s scale and growth trajectory present excellent opportunities for Canadian businesses. As a critical hub in today’s global supply chain, India offers Canadian exporters the chance to collaborate with global partners, tap into emerging sectors, and contribute to sustainable growth across both countries.”
Canadian business success in India
British Columbia-based AvenEx Coating Technologies Inc. scaled up its operations over the last decade, growing from a small startup with just two employees to a global company with more than 4,000 employees across six countries.
This rapid expansion was enabled by EDC’s support through the Export Guarantee Program (EGP), which helped finance equipment for AvenEx’s manufacturing facilities in India. The support allowed AvenEx to fulfill large purchase orders from Fortune 500 companies, secure raw materials at scale and accelerate its international growth. Currently, AvenEx has six manufacturing facilities in India, employing more than 2,500 people in the country.
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
Media Contact: Media | Export Development Canada, 1-888-222-4065, media@edc.ca
