Canadian PM Carney heads to India on ‘significant’ trip to consolidate ties

Carney’s trip comes at a time when he’s looking for new markets for Canadian exports to diversify from the US.

Canadian Prime Minister Mark Carney is heading to India for what experts say is a “very significant trip” as he tries to reset relations between the two countries and find new markets for Canadian exports.

While the trip, which starts Friday, is expected to be heavy on diplomacy, experts question whether it will result in major economic deals to shore up Canada’s economy.

Carney has pledged to broaden the country’s trading partners as relations with its neighbour, the United States, fray. And India, with its 1.4 billion people, is a potentially large market for Canada’s vast petroleum and natural gas reserves, among other products.

But to build those economic bonds will require Carney to overcome diplomatic tensions and hesitancy about the costs of its exports, according to analysts.

“Canada domestically needs to figure out to what extent it wants to grow its oil and gas industry,” said Tarun Khanna, professor at the University of British Columbia who focuses on energy policy.