For long I have been watching the evolving diplomatic landscape between India and Canada with a mixture of hope and caution. Over the past year, tensions between the two nations strained not just political ties, but also the prospects for trade and investment. The fallout has been felt most acutely by businesses, especially MSMEs, who rely on steady, predictable access to international markets. But with this week’s election results, I see a unique window of opportunity, maybe even a reset for both the countries’ trade relations.

Canada’s new political leadership appears more pragmatic and open to diplomatic engagement. If early statements are to be believed, there is a renewed emphasis on rebuilding fractured alliances and restoring trust with key partners. For India, which has always valued trade as a key component of its diplomacy, this presents a strategic opening in the wake of US trade tariffs. Indian exporters are actively seeking new markets and a thaw in India-Canada ties can come as an opportunity.

From the exporter's standpoint, this could not come at a better time. The past months of diplomatic chill led to uncertainty over the Early Progress Trade Agreement (EPTA), and left many in limbo. Our exporters were caught between shifting tariffs, suspended dialogues, and a growing sense of unpredictability. But the change in political tone now can pave the way for those negotiations to resume with fresh vigor.