Indigenous economic partnerships are Canada's biggest untapped growth opportunity

A new report from Deloitte's Future of Canada Centre argues that deepening economic partnerships with Indigenous nations is Canada's most overlooked path to growth.

The research, released Wednesday, found that Indigenous gross domestic income jumped from $37.6 billion in 2013 to $63.7 billion in 2023. Indigenous communities now play a growing role in natural resource-based industries — fishing, forestry, mining, oil and gas — and companies are increasingly engaging with First Nations before projects launch.

"It starts with respect. Showing up, listening, and taking time to establish that familiarity," said Dean Janvier, a Deloitte partner and member of the Cold Lake First Nations. "That will become the basis of trust."

The report, based on interviews with 12 Indigenous business leaders and research with firms like Athabasca Indigenous Investments and Glooscap Ventures, found that closing economic gaps could nearly double the Indigenous economy's scale. Barriers remain — geographic isolation, resistance to change, and companies still preferring government permits over genuine negotiation — but the momentum is real. For Canada's economy, the report suggests, inclusion isn't a cost; it's the accelerant.