Wednesday, June 19, 2024
HomePoliticsIndia-Canada Relations: Escalating Disputes Threaten Trade and Education Ties

India-Canada Relations: Escalating Disputes Threaten Trade and Education Ties

New Delhi | September 20, 2023: The ongoing disputes between India and Canada, which began with political disagreements, have now escalated into an economic showdown, impacting sectors from commodities to education. With both nations failing to find common ground, the consequences of this heated controversy loom large. India and Canada, once partners in multi-billion-dollar investments, now stand at a crossroads, with the education sector bearing the brunt. As tensions simmer, we delve into the implications of this feud and how it may affect both nations.

In 2022, India held the position of Canada’s 10th largest trading partner. India exported goods worth $4.10 billion to Canada during the 2022-23 financial year, while Canada reciprocated with exports valued at $4.05 billion. The trade balance is now at equilibrium. The previous fiscal year (2021-22) saw India exporting $3.76 billion to Canada, with imports amounting to $3.13 billion. Bilateral trade, estimated at seven billion dollars in 2021-22, is projected to rise to $8.16 billion in 2022-23.

Canada has become a favored destination for Indian students seeking higher education, with foreign students constituting 40 percent of the nation’s student population. However, the intensifying tensions between the two countries could jeopardize the academic pursuits of Indian students in Canada. A significant number of students from Punjab pursue education in Canada, with around two lakh currently enrolled. The cost of education for these students is approximately Rs 25 lakh. If tensions continue to mount, Canada may tighten entry rules, potentially affecting the financial burden faced by these students.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments