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India and Canada have reignited discussions on a Comprehensive Economic Partnership Agreement with a goal to boost bilateral trade to 50 billion USD by 2030. Will strengthened economic ties reshape investment and commerce between the two nations?
India, Canada discuss bilateral trade agreement.
New Delhi: India and Canada have resumed discussions aimed at strengthening bilateral trade and investment, with a focus on a Comprehensive Economic Partnership Agreement, or CEPA. Commerce and Industry Minister Piyush Goyal met his Canadian counterpart, Maninder Sidhu, in Delhi to explore modalities, macro objectives, and the overall framework of the trade pact.
The discussions are part of ongoing efforts to relaunch negotiations on CEPA, which both countries see as a key instrument to increase two-way trade from current levels to an ambitious 50 billion USD by 2030. Minister Goyal confirmed that he will lead a high-level trade and investment delegation to Canada next year to further deepen commercial ties.
India-Canada relations experienced a temporary downturn in 2023 following controversial allegations by former Canadian Prime Minister Justin Trudeau regarding a possible Indian link to the killing of Hardeep Singh Nijjar. However, diplomatic interactions have recently regained momentum, highlighted by Prime Minister Narendra Modi’s talks with Canadian Prime Minister Mark Carney during the G7 summit in Kananaskis, Canada, in June 2025.
Bilateral trade in goods and services reached 23.66 billion USD in 2024, with merchandise trade alone valued at 8.98 billion USD, reflecting a 10 percent year-on-year growth. India’s exports to Canada rose 9.8 percent to 4.22 billion USD in 2024-25, up from 3.84 billion USD in 2023-24.
Held a productive discussion with Minister Sidhu to advance the trade and commercial engagement with Canada.
We undertook initial scoping and broad discussions on the overall approach, contours, macro objectives and modalities as part of preparations for the launch of CEPA… pic.twitter.com/r33obxbZzY
— Piyush Goyal (@PiyushGoyal) December 3, 2025
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Both ministers emphasized the importance of long-term supply-chain partnerships in critical minerals and clean energy collaboration, supporting the global energy transition. They also discussed expanding investment and trade opportunities in aerospace and dual-use capabilities, taking advantage of India’s growing aviation sector.
Discussions further highlighted the importance of resilient supply chains, especially in agriculture, and stressed the need to diversify trade avenues to make bilateral commerce more reliable. The talks also focused on encouraging private sector participation in unlocking new trade and investment opportunities.
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India-Canada relations hold strategic significance due to a large Indian diaspora of around 2.9 million and over 427,000 Indian students residing in Canada. Both ministers reiterated the commitment to enhancing economic ties while creating a framework that benefits businesses and investors from both countries.
Minister Sidhu noted that continued engagement with the private sector is essential to maximize trade potential, while Goyal highlighted that the CEPA negotiations aim to provide a structured, sustainable roadmap for cooperation.
The ministers agreed to hold sustained ministerial and private sector engagements in early 2026, paving the way for formal negotiations on CEPA. This initiative is expected to further strengthen India-Canada economic partnerships and unlock opportunities across multiple sectors, from critical minerals to clean energy, aerospace, and agriculture.
