India and Canada Push Ahead With Comprehensive Economic Partnership Agreement
Trade negotiations gain momentum as both nations target stronger investment and economic cooperation
OTTAWA, May 26: India and Canada have intensified negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA), with leaders from both countries expressing optimism about deeper economic cooperation.
Canadian Prime Minister Mark Carney met Union Commerce and Industry Minister Piyush Goyal to review the progress of trade discussions and identify opportunities in energy, technology, education and agriculture.
Carney described the proposed agreement as a “game changer” for Canadian businesses and workers, saying it would open access to one of the world’s fastest-growing economies. Goyal said the proposed trade pact could unlock new growth opportunities and significantly expand bilateral economic relations.
The two countries have already completed two rounds of negotiations under the CEPA framework. Officials indicated that discussions are progressing quickly as both sides seek greater market access and investment partnerships.
Goyal is leading a delegation of over 150 business representatives during his visit to Canada. The trip includes meetings with political leaders, investors and major pension funds in Ottawa and Toronto.
One of the key highlights of the visit is Goyal’s interaction with Canada’s “Maple 8” pension funds, among the world’s largest long-term institutional investors managing assets worth trillions of dollars. India is seeking increased investment from these funds in infrastructure, technology, clean energy and manufacturing sectors.
According to Indian officials, Canada has strengths in oil, gas, mining and critical minerals, while India offers a skilled workforce and expanding industrial capacity. Both countries are looking to enhance collaboration in strategic industries.
Bilateral trade between India and Canada stood at 8.66 billion dollars during 2024-25, and both nations aim to increase it substantially over the next five years. Officials also highlighted the presence of nearly 600 Canadian companies operating in India, with plans to expand further.
Analysts believe stronger India-Canada economic ties could help diversify supply chains and strengthen long-term cooperation in Indo-Pacific trade and investment networks.
