Ottawa, Feb 26 : Canadian Prime Minister Mark Carney is scheduled to begin a visit to India on Thursday in what is being seen as a significant reset in bilateral relations between the two countries.

The visit marks the first official trip to India by a Canadian prime minister since relations became strained during the previous administration, signalling a renewed push to stabilise and strengthen diplomatic and economic engagement.

According to a statement issued by the Canadian Prime Minister's Office, Carney will commence his India tour in Mumbai, where he is expected to meet leading business figures.

He will subsequently travel to New Delhi for high-level discussions with Prime Minister Narendra Modi on March 2.

"The leaders will focus on elevating and expanding the Canada-India relationship, with ambitious new partnerships in trade, energy, technology and artificial intelligence (AI), talent and culture, and defence. He will meet with business leaders to identify investment opportunities in Canada and create new partnerships between businesses in both nations," the statement released on Monday said.

The statement further underscored Canada's economic strengths, asserting, "Canada has what the world wants -- abundant energy, critical minerals, expertise in technology, and world-class talent. In a changing world, we are investing in our strength, diversifying our trade, and cultivating a dense web of new connections throughout the world to build Canada strong."

The Canadian PMO highlighted that India is the world's fastest-growing major economy and a powerhouse in global commerce and technology. India was Canada's seventh-largest goods and services trading partner in 2024, with two-way trade reaching $30.8 billion.

PM Modi met Carney on the sidelines of the G20 Summit in Johannesburg last November, where he noted that India has set a target of 50 billion USD by 2030 for bilateral trade between the two countries.

Prime Minister Modi mentioned that India and Canada have great potential in strengthening trade and investment linkages.

"We have set a target of 50 billion USD by 2030 for our bilateral trade. Canadian Pension Funds are also showing keen interest in Indian companies," he posted on X after the meeting.

Earlier this month, Canadian Foreign Minister Anita Anand met External Affairs Minister (EAM) S Jaishankar on the sidelines of the Munich Security Conference in Germany.

In an official press release, the Government of Canada stated, "This marks the fifth meeting between the ministers since September 2025, reflecting the growing momentum in the Canada-India relationship, building on more than 75 years of diplomatic relations and strong people-to-people ties. The ministers discussed deepening cooperation in several areas, including energy, technology, and trade."

Highlighting India's expanding global role, the Canadian government noted, "As one of the world's most dynamic and growing economies, Minister Anand noted India's importance as a partner for Canada."

The Ministers "affirmed the shared technological benefits and significant partnership opportunities for both countries' businesses, industries, and workers."

Both sides underscored the substantive progress made on the joint road map for Canada-India relations and reiterated their commitment to strengthening ties through the implementation of road map priorities as well as expanding and diversifying Canada-India trade in support of economic resilience and stability.

EAM Jaishankar said that he had a fruitful conversation with his Canadian counterpart, with both ministers discussing further strengthening of the bilateral ties in various sectors.

Following the completion of his engagements in India, Carney will proceed to Australia before travelling onward to Japan, continuing his broader diplomatic outreach in the Indo-Pacific region.

/IANS