Mark Carney, 60, is Canada’s new prime minister. The former Bank of England boss will retain his position after having secured a full term in the lead-up to replacing former PM Justin Trudeau, who resigned earlier this year. Despite being a seasoned economist, Carney never actually held office and has little formal government experience unlike other candidates contesting in the Canadian federal election.

About Mark Carney, Canada’s new prime minister

Born in Fort Smith, in the Northwest Territories, in 1965, he was raised in the Alberta City of Edmonton. As the child of two educators, he ultimately scored a scholarship to study in the United States. Pursuing education in economics and finance, he graduated from Harvard and Oxford universities.

Thereafter, he went on to serve as a Goldman Sachs executive. Returning to his home country Canada down the line, he headed the country’s central bank from 2008 to 2013, according to the Independent. At the time, his leadership set a new example as Mark Carney steered Canada through the 2008 financial crisis. At one point, he had a stint as the United Nations envoy for climate action and finance. In 2014, he became the first non-British person to step into the top banking role as the governor of the UK’s Bank of England in its 300-year history, according to BBC.

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The former banker – now helming the Liberal Party leadership – eventually told a crowd in his hometown of Edmonton, “I’m not the only Liberal in Canada who believes that the prime minister and his team let their attention wander from the economy too often. I will not lose focus. Our growth has been too slow. People’s wages are too low. The federal government spends too much, but it invests too little. Middle-class taxes are too high.”

Mark Carney’s anti-Trump stance steers election win

Months ago, the winning numbers weren’t in Mark Carney’s favour as Conservatives were noticeably leading the popularity polls. However, Donald Trump’s aggressive stance against Canada and his plans of annexing it as the “51st State” prompted Mark Carney to adopt a hard-to-miss anti-Trump visage. The same ultimately prompted a narrow a Liberal win on Monday, as per the Associated Press and CBC.

Trump’s repeated admissions related to Canada resulted in Carney posing less diplomatically, as he even compared him to the Harry Potter series villain Voldemort. “When you think about what’s at stake in these ridiculous, insulting comments of the president, of what we could be, I view this as the sort of Voldemort of comments,” the banker-turned-politician said. “Like I will not even repeat it, but you know what I’m talking about.”

As for his responses tied to the US tariff war, Mark Carney asserted that he would continue to push for counter-tariffs “until the Americans show us respect.. and [make] credible and reliable commitments to free and fair trade.”

Mark Carney’s views on India

The India-Canada relationship suffered a major blow under PM Justin Trudeau after Canada accused the Indian government of being involved in the killing of Sikh separatist Hardeep Singh Nijjar. On the contrary, the former Bank of Canada governor hinted at resetting “incredibly important” diplomatic ties with New Delhi on Monday.

“It’s an incredibly important relationship, the Canada-India relationship, on many levels. On the personal level, with Canadians having deep personal ties, economically, strategically,” Carney said of renewing ties with Indian if he won a full term. Without directly addressing Nijjar’s killing case, he added, “There are strains on that relationship that we didn’t cause, to be clear, but there is a path forward to address those with mutual respect and to build out.”

Mark Carney particularly name-dropped India while speaking of expanding Canada’s partnerships with “like-minded countries.” The new Canadian PM said, “What Canada will be looking to do is to diversify our trading relationships with like-minded countries, and there are opportunities to rebuild the relationship with India.” This has, in turn, positively signalled the possibility of the resumption of trade agreements, such as the Early Progress Trade Agreement (EPTA), which came to a standstill in 2023 under strained diplomatic relations.

The potential rebuilding of India-Canada ties are expected to consequently favourably impact the former banker’s immigration policies. This will evidently play its role as a massive plus point for Indian professionals and students aspiring to pursue higher education and career opportunities, who are viewed as a significant source of skilled workers. An amended relationship with Canada will undoubtedly boost visa processes.

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PM Modi looks forward to strengthening India-Canada partnership

Indian Prime Minister Narendra Modi congratulated the newcomer to electoral politics after his election win against Conservative leader Pierre Poilievre. “India and Canada are bound by shared democratic values, a steadfast commitment to the rule of law, and vibrant people-to-people ties. I look forward to working with you to strengthen our partnership and unlock greater opportunities for our people,” he wrote on X.

Indian experts on Mark Carney’s approach

Former Indian High Commissioner Ajay Bisaria, a corporate advisor and an ex-envoy to Canada, suggested that Carney’s lack of “India baggage” unlike Trudeau offers a win-win opportunity for both countries to reinstate commercial relations and talk trade. Canada-India Foundation Chair Ritesh Malik also welcomed Carney’s remarks, saying “global perspective and recognition of strategic geopolitical importance” of India could strengthen ties between the two nations.

Mark Carney strategises to be less dependent on the US

Carney refocussing his attention to India comes at a time when Canada’s ties with the US are deteriorating in the wake of Trump’s verbal onslaught and tariff threats. But even then the Liberal leader failed to secure a clear majority in parliament on Monday. Uniting Canadians presents itself as a hurdle in his path to winning the public’s favour alongside fighting a trade war with the US. “Who’s ready to stand up for Canada with me,” he said in a victory speech on Tuesday morning.

“America wants our land, our resources, our water,” Carney went on. Declaring Canada’s “old relationship of integration” with the US was “over,” he added, “These are not idle threats. Trump is trying to break us so America can own us. That will never happen.”