Union Commerce Minister Piyush Goyal met with Canada’s Trade Minister Maninder Sidhu to discuss accelerating the Comprehensive Economic Partnership Agreement, aiming to strengthen bilateral trade, market access, and investment cooperation.
Strengthening India-Canada Economic Ties
Union Commerce and Industry Minister Piyush Goyal on Wednesday held a meeting with Canada’s Minister of International Trade Maninder Sidhu and the accompanying Canadian delegation to discuss advancing negotiations on the India-Canada Comprehensive Economic Partnership Agreement (CEPA) and strengthening bilateral economic ties. In a social media post, Goyal said the two sides discussed the importance of a balanced and mutually beneficial agreement that delivers meaningful market access, leverages the complementarities of their economies and creates new opportunities for trade and investment.
Goyal said, “Had a warm and engaging breakfast meeting with Mr. Maninder Sidhu, Minister of International Trade of Canada, and the accompanying Canadian delegation to discuss advancing negotiations on the India-Canada Comprehensive Economic Partnership Agreement (CEPA) and strengthening our bilateral economic ties”. He also reaffirmed the shared commitment of both countries to taking the India-Canada economic partnership to new heights, with CEPA serving as a catalyst for deeper commercial engagement and shared prosperity.
Roadmap for the CEPA Agreement
Trade Targets and Historical Context
India and Canada are actively negotiating a Comprehensive Economic Partnership Agreement (CEPA). India and Canada are aiming to more than double their bilateral trade to USD 70 billion by 2030, from CAD 30.4 billion in 2025. The proposed CEPA is expected to support this ambition by strengthening trade and investment ties between the two countries. Bilateral trade between India and Canada reached USD 8.66 billion in FY 2024-25. The negotiations for the agreement were originally launched in November 2010, with 10 rounds of discussions held through 2017 before the process stalled.
Recent Momentum and Future Outlook
The negotiations gained fresh momentum following a reset in bilateral relations. On March 2, 2026, Goyal and Sidhu signed the Terms of Reference (ToR) for the CEPA in New Delhi. The signing was witnessed by Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney. The second round of negotiations took place from May 4 to 8, 2026, at Vanijya Bhawan in New Delhi. Discussions covered several areas, including goods, services, intellectual property, rules of origin and sanitary measures. Subsequent rounds, including a round in Ottawa and ongoing discussions in November 2026, have continued the negotiation process. Both countries are aiming to finalise and announce the agreement ahead of Prime Minister Narendra Modi’s planned visit to Canada in December 2026. The proposed agreement is aimed at strengthening economic cooperation by improving market access, expanding trade opportunities and encouraging greater investment between India and Canada. (ANI)
(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)