6 months ago
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Union Petroleum Minister Hardeep Singh Puri met Canada’s Minister for International Trade Maninder Sidhu Wednesday (November 12, 2025) to sermon bilateral hydrocarbon commercialized betwixt the 2 nations. Mr. Puri wrote successful a societal media station connected X that the bilateral hydrocarbons trade that scaled $226.45 cardinal successful the fiscal twelvemonth 2024-25 besides has “substantial upside potential”.
The gathering is portion of Mr. Sidhu’s authoritative sojourn to India wherein the North American state is seeking to “find opportunities to beforehand commercialized and concern linkages” betwixt the 2 nations.
Specifically connected the vigor front, Ottawa is seeking to diversify their avenues for hydrocarbons exports, which is presently exporting majorly to the U.S., and has been astatine the receiving extremity of U.S. President Donald Trump-induced tariff regime. Canadian-origin goods look a 35% tariff for their exports to the U.S. In 2024, it exported 6.3 cardinal barrels of lipid equivalent per time to 110 countries with U.S. unsocial receiving 94.4% of them.
India, connected the different hand, presently faces 50% tariffs connected their exports to Washington, including a 25% punishment for buying Russian oil. Whilst negotiating for a favourable commercialized deal, India has been steadfast successful maintaining their committedness to vigor security.
Reflecting connected a imaginable diversification avenue with Ottawa, Mr. Puri stated, “Indian vigor entities person a robust and rapidly increasing planetary footprint successful upstream lipid and state assemblage nether the enactment of Prime Minister Narendra Modi, and connection collaboration opportunities to further grow the handbasket of countries from wherever we root crude, LPG and LNG.”
