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OTTAWA — As Canada and other Western nations ramp up their efforts to build stronger political and economic ties in Asia, business groups are calling on the federal government to finally lock in a trade agreement with India.
“The best path forward is a comprehensive economic partnership agreement with India,” the report says, estimating that such an agreement would increase two-way trade by $8.8 billion a year and bring about an annual GDP boost of 0.25 per cent by 2035. Vivek Dehejia, an associate professor of economics at Carleton University, says the term “Indo-Pacific” itself is an attempt to boost India’s prominence in the region, which was previously referred to as the “Asia-Pacific.” That shift, he says, is driven by the West’s perception of China as a threat.
The Indian diaspora, which is concentrated in metropolitan regions like the Greater Toronto Area, is made up of swing voters, he said, adding a political incentive to reaching a deal. Dehejia said there is also the incentive for Prime Minister Justin Trudeau to secure a deal and post it as a win for his government.
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