Union Finance Minister Nirmala Sitharaman will embark on a nine-day official visit to Canada and the United States on Tuesday, with trade, investment and financial cooperation high on the agenda as India seeks to deepen economic engagement with the two North American economies. The August 25-September 2 visit will take Sitharaman to Toronto before she travels to Chicago, Asheville and New York in the United States. Her engagements will range from government-level economic talks to meetings with investors, businesses and financial institutions. The visit comes at an important juncture for India's economic engagement with both countries. New Delhi and Ottawa are working towards a comprehensive trade agreement, while India and the US have made substantial progress on their proposed bilateral trade deal.
Economic dialogue with Canada
Sitharaman's first stop will be Toronto, where she will co-chair the inaugural India-Canada Economic and Financial Dialogue with Canadian Finance Minister Francois-Philippe Champagne.
The discussions are expected to cover the global and domestic macroeconomic outlook, cooperation between the two countries' financial sectors and opportunities for greater investment. Energy, artificial intelligence, critical minerals and resilient supply chains are among the sectors expected to figure prominently in the talks.
The two sides are also expected to review progress towards a Comprehensive Economic Partnership Agreement (CEPA), as India and Canada attempt to give fresh momentum to their commercial relationship.
Bilateral trade stood at $8.66 billion in 2025, up from about $8.4 billion a year earlier. Indian exports to Canada were valued at $4.22 billion, while imports stood at $4.45 billion.
During her Canadian leg, Sitharaman will participate in an investment roundtable and interact with executives of Indian public sector banks. Discussions with bankers will include opportunities associated with Gujarat International Finance Tec-City's International Financial Services Centre.
She is also scheduled to participate in a fireside conversation organised by the Canadian Club of Toronto and the Canada-India Business Council, besides interacting with members of the Indian community.
India and Canada are currently negotiating the CEPA, with efforts underway to conclude a formal bilateral trade agreement by the end of 2026.
Investor outreach in United States
After Canada, Sitharaman will travel to the United States, where her itinerary covers Chicago, Asheville in North Carolina and New York.
In Chicago, the Finance Minister will hold a series of investor roundtables aimed at highlighting opportunities in the Indian economy and attracting greater capital into key sectors. She will also visit the Polsky Center for Entrepreneurship and Innovation at the University of Chicago.
The US remains one of India's most important economic partners. Bilateral trade in goods and services reached an estimated $239.6 billion in 2025, an increase of 12.1 per cent from the previous year.
Goods trade alone was estimated at $149.1 billion. American goods exports to India rose 9.1 per cent to $45.4 billion during 2025, while US imports from India increased 18.9 per cent to $103.8 billion.
The resulting US goods trade deficit with India widened to $58.4 billion, up 27.8 per cent from 2024.
G20 talks and New York engagements
Sitharaman will lead the Indian delegation at the G20 Finance Ministers and Central Bank Governors meeting in Asheville from August 31 to September 1. The meeting is being held under the United States' G20 presidency and will bring together finance ministers and central bank chiefs from the world's major economies.
The discussions are expected to cover major global economic and financial challenges, with India continuing to push its priorities on development, financial inclusion and cooperation among emerging and advanced economies.
The Finance Minister will conclude her tour in New York, where she is scheduled to participate in high-level meetings with investors. Her programme will also include a ceremonial bell-ringing at Nasdaq.
The visit is expected to provide New Delhi with an opportunity to simultaneously advance government-to-government economic engagement and court institutional investors, as India looks to strengthen its position as a major destination for global capital.