Canadian pension funds have been “very much engaged with India,” Nirmala Sitharaman told reporters during a visit to Toronto. “We would like more of them to be here with us.” She cited investment opportunities in Indian infrastructure projects; green sectors like hydrogen, battery storage and small modular nuclear reactors; as well as fintech firms and other tech companies. (The Logic)

Talking point: Ottawa and New Delhi are currently in the midst of their latest attempt to close a trade deal; negotiations began all the way back in 2010. The two sides have set an end-of-year deadline, as the Liberal government seeks to diversify its economic ties in the face of U.S. tensions. Sitharaman was in town to talk with Finance Minister François-Philippe Champagne about financial-sector co-operation, trade in critical minerals and energy, and the broader macroeconomic challenges both countries must address. Sitharaman made the case Thursday for more one-to-one trade ties over group deals with blocs of countries. Bilateral relationships, she said, “clearly match” each side’s assets to the other’s challenges. Ottawa has sought both kinds. 

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