India and Canada are looking to deepen their India-Canada economic ties through a renewed focus on the Comprehensive Economic Partnership Agreement (CEPA). Energy, critical minerals, clean technologies, science, space, resilient supply chains and talent mobility are also emerging as key areas of cooperation.
Both governments are working towards concluding CEPA by the end of 2026. The agreement could create new opportunities for bilateral trade and investment while strengthening cooperation across strategic sectors.
CEPA Takes Centre Stage
The March 2026 Joint Leaders’ Statement identified several priority areas for deeper economic engagement. These include energy, critical minerals, clean technologies, science and technology, space, resilient supply chains and talent mobility.
CEPA negotiations will focus on market access and other trade-related issues. Both sides will also need to address sensitive sectors and domestic concerns as discussions progress.
A successful agreement could give businesses in both countries greater market access. It could also support wider investment and supply-chain partnerships.
Energy and Critical Minerals Drive Cooperation
Energy is expected to remain a key pillar of the relationship. Canada has resources that can support India’s growing energy requirements, including LNG, LPG, crude oil and uranium.
The Strategic Energy Partnership covers conventional energy, civil nuclear cooperation, clean energy and critical minerals. A CAD 2.6 billion long-term uranium supply agreement between Cameco and India’s Department of Atomic Energy provides a strong foundation for further cooperation.
The two countries are also discussing long-term LPG supplies. This could further strengthen energy cooperation between the two markets.
Critical minerals offer another important opportunity. Canada’s mineral resources and expertise can support India’s requirements for batteries, advanced manufacturing and clean technologies.
The bilateral critical minerals framework could support cooperation in exploration, processing, investment, technology and supply chains.
Clean Technology and Space Add New Opportunities
Clean energy is also emerging as a major area of collaboration. India and Canada are exploring opportunities across solar, wind, bioenergy, small hydro and energy storage.
Technology, science and space could further broaden the partnership. Canada has strengths in artificial intelligence, quantum technologies, advanced research and aerospace. India, meanwhile, offers a large technology workforce and extensive experience in deploying digital platforms at scale.
Long-standing cooperation between ISRO and the Canadian Space Agency also provides a foundation for future collaboration in space.
CEPA Could Broaden Market Access
Under CEPA, India is expected to seek greater access for pharmaceuticals, engineering goods, machinery, IT and professional services.
Canada, meanwhile, has interests in agriculture, agri-food, energy, minerals and wood products. Finding a balance between market access and domestic sensitivities will remain important as negotiations move forward.
The renewed focus on CEPA, energy, critical minerals and technology could give India-Canada economic ties a broader foundation. It could also help both countries build more diversified trade and investment partnerships while strengthening resilient supply chains.
