Union Minister of Commerce and Industry Shri Piyush Goyal is leading a high-level Indian business delegation to Canada, marking a key step in strengthening bilateral economic relations. The visit includes engagements in Ottawa on May 25, followed by a two-day programme in Toronto from May 26 to 27.
The trip is aimed at advancing the ongoing India–Canada Comprehensive Economic Partnership Agreement (CEPA) talks, which are central to the broader India–Canada economic engagement. The India–Canada CEPA trade talks gained momentum after the mandate provided by the Prime Ministers of both countries during Canadian Prime Minister Mark Carney’s visit to India in March 2026.
Progress in India–Canada CEPA Trade Talks as Multiple Rounds of Negotiations Advance Toward Next Phase in Ottawa
During that visit, the Terms of Reference for the India–Canada CEPA trade talks were formally signed, paving the way for structured negotiations. The first round of discussions was held virtually in March, while the second round concluded on May 8, 2026. A further round of negotiations is scheduled in Ottawa from May 25 to 29, coinciding with the current visit.
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Officials from both sides are working toward an early and balanced conclusion of the India–Canada CEPA trade talks by the end of 2026. The goal is to significantly expand bilateral trade to CAD 70 billion (approximately INR 4.65 lakh crore) by 2030, compared to the current trade volume of USD 8.5 billion in FY25.
Key Sectors Identified for Growth in India–Canada CEPA Trade Talks
The India–Canada CEPA trade talks are expected to unlock new opportunities across key sectors such as Technology and Artificial Intelligence, Clean Energy and Critical Minerals, Pharmaceuticals and Biotechnology, Aerospace and Defence, and Food Processing and Agri-tech. These sectors highlight the complementary strengths of both economies and the potential for joint investment, innovation, and supply chain integration.
The Indian delegation will also engage with Canadian counterparts to deepen cooperation and explore long-term strategic partnerships, reinforcing the importance of the India–Canada CEPA trade talks in shaping future economic ties between the two nations.