Who benefits and who suffers loss from the Canada-India dispute, know all the details from import and export to other details!

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Canada's diplomatic dispute with India is deepening, although Canada's stance towards India is softening. Canada and India have long-standing trade relations, with trade between the two countries expected to reach $8.3 billion in 2022-23. However, there are many aspects of Canada's trade and diplomatic relations with India that you may not know about.

While it is well known that Canada attracts a large number of Indian students, it may come as a surprise that India is one of the top five tourist destinations for Canadian travelers worldwide. Last year, about 280,000 tourists came to India from Canada. The ongoing Cold War between Canada and India has had an impact on both countries, although in many respects they remain critical of each other.

$32 billion sent to India

Apart from tourists and students, a large number of Indian expatriates live in Canada. According to the Commerce Ministry, India ranks 35th in terms of share in Canadian trade partnerships. There are approximately 1.76 million expatriate Indians in Canada. The amount of money sent from Canada to India is $3.8 billion (about ₹32,000 crore). This remittance figure is for the year 2021. Canada ranks 9th in terms of remittances globally. Out of the total overseas Indian population of 17 million, 1.8 lakh people are NRIs (Non-Resident Indians), while over 1.5 million people hold Canadian and other foreign nationalities.

Business Accounting

According to Commerce Ministry data, India imported 50 lakh tonnes of pulses from Canada last year. On the export front, India exported smartphones worth around $100 million to Canada. There is also significant trade between India and Canada in the healthcare sector. Last year, Canada imported medicines worth $200 million from India. In terms of total exports to India, Canada's share is 0.9%, which includes basmati rice, smartphones, medicines, jewelry, and other items. In this matter, Canada is in 7th place.

Overseas Indian population

When it comes to the population of expatriate Indians, Canada ranks 7th. Among the overseas Indian demographics, the United States is on top, followed by the UAE, Malaysia, Saudi Arabia, Myanmar, the UK, and then Canada. There are a total of 1.8 lakh NRIs and 15.1 lakh PIOs (People of Indian Origin) in Canada.