From May 25th to the 27th, a group of approximately 150 business leaders led by Commerce and Industry Minister Piyush Goyal will go to Canada with the goal of enhancing economic ties, investment opportunities, and trade between the two countries.
The purpose of the tour is to give the economic engagement between India and Canada a new lease of life and to move the discussions for the Comprehensive Economic Partnership Agreement (CEPA) forward. The goal is for both countries to finalise the deal by the end of 2026.
According to Goyal, who spoke at a news briefing on Saturday, India is planning to negotiate a free trade deal with Canada that will include a wide range of topics, including energy, vital minerals, technology, food processing, and sustainable energy.
The two countries’ trade goals are set to reach 70 billion Canadian dollars (about 4.65 lakh crore) by 2030, indicating a substantial increase in bilateral commerce between India and Canada. With a current value of approximately $8.5 billion, there is a lot of space for expansion in products and services trade between the two countries.
Goyal claims that Canadian pension funds and corporations have put about $100 billion into India, a sign of the growing institutional and financial ties between the two countries.
Almost 600 Canadian companies are already operating in India, according to the minister, and the goal of both nations is to raise that number to about 1,000 in the future through better market access and deeper business cooperation.
On May 25, Goyal will preside over engagements in Ottawa. On May 26 and 27, the Indian delegation will attend a two-day program in Toronto, where they will meet with Canadian ministers, corporate executives, and industry groups.
The visit is in continuation of the agreement reached between Prime Minister Narendra Modi of India and Prime Minister Mark Carney of Canada during Carney’s March 2026 visit to India, when the two countries redoubled their efforts to restore and strengthen economic relations.
The China-India Free Trade Agreement (CEPA) talks will be one of the main attractions of the trip. During Prime Minister Carney’s visit to India, the parties signed the agreement’s terms of reference. The first round of negotiations took place virtually in March, and the second round ended on May 8.
In order to promote trade, investment, and supply-chain collaboration, the two nations are planning to hold another round of talks in Ottawa from May 25-29. The goal is to reach an early and balanced agreement.
Industry and government see the proposed trade treaty as a cornerstone of India and Canada’s long-term economic engagement, and the two countries’ agricultural, energy, educational, and technological collaboration is robust.
Image Credit: The Hindu
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