NEW DELHI, Aug. 28 -- India and Canada have set a shared goal of expanding bilateral trade to C$70 billion, or Rs.4.65 trillion, by 2030, while India said it was ready to begin negotiations on a bilateral investment treaty (BIT) at the earliest, according to a joint statement issued on Friday after the first Canada-India finance ministers' economic and financial dialogue.

Finance minister Nirmala Sitharaman and Canada's finance and national revenue minister Francois-Philippe Champagne concluded the inaugural dialogue, which focused on deepening economic and financial cooperation, including trade and investment.

The dialogue builds on a commitment made by Canadian Prime Minister Mark Carney and Prime Minister Narendra Modi during their m...