NEW YORK (UNITED STATES) Canada is optimistic about
finalizing negotiations on a Comprehensive Economic Partnership Agreement
(CEPA) with India by the end of the year. Following meetings with Indian
Commerce and Industry Minister Piyush Goyal, Canadian International Trade
Minister Maninder Sidhu reaffirmed both nations' commitment to accelerating
discussions and concluding the pact in the coming months.
The ongoing talks follow an objective set earlier this year by Canadian
Prime Minister Mark Carney to secure a free trade agreement with New Delhi to
significantly boost bilateral economic ties. Two-way trade between Canada
and India reached $30.4 billion in 2025, with both governments aiming to more
than double that figure to $70 billion by 2030. Indian trade negotiators are
slated to travel to Canada next month for the next round of discussions, with
leaders from both nations expected to meet at the G20 summit later this year.
Negotiations
encompass a broad range of sectors, including trade in goods, services, and
energy cooperation. Canadian officials are discussing ways for Indian firms to secure
supplies and invest in Canadian liquefied natural gas (LNG) projects, alongside
expanded collaboration in nuclear energy. Furthermore, major Indian
conglomerates are actively exploring investments in Canadian critical mineral
projects to strengthen supply chain security amid growing global trade
friction.
By expanding preferential access across emerging industries like
artificial intelligence, renewable power, and aerospace, both nations aim to
unlock new commercial avenues. A finalized CEPA is expected to
diversify trade flows and provide Canadian and Indian businesses with critical
access to burgeoning markets.
Reported by: Lucas Bennett, Finance & Government Ethics Analyst |
Opinion Newsroom
