NewKerala.com

India-Canada CEPA to Double Apparel Exports, Boost Trade to $70B

The Apparel Export Promotion Council projects that a Comprehensive Economic Partnership Agreement with Canada could double India's apparel exports to $500 million within three years. The deal is a key part of a broader goal to more than double two-way trade to $70 billion by 2030. The strengthened ties also include a Strategic Energy Partnership for uranium supply and collaboration on technology, AI, and skilling. The resumption of negotiations follows calibrated steps to restore diplomatic relations between the two nations.

Key Points: India-Canada Trade Deal to Double Apparel Exports in 3 Years

  • CEPA may double apparel exports to $500M
  • Targets $70B bilateral trade by 2030
  • Includes uranium supply & energy partnership
  • Focus on tech transfer & AI collaboration
2 min read

CEPA could double apparel Indian exports to Canada in 3 years: AEPC

CEPA could boost India's apparel exports to Canada to $500M, fuel $70B bilateral trade by 2030, and create jobs through strategic partnership.

"The signing of CEPA could double the exports to Canada in next three years - Dr A. Sakthivel, AEPC Chairman"

New Delhi, March 3

Industry body Apparel Export Promotion Council on Tuesday welcomed the strengthening India‑Canada ties, especially resumption of negotiations on a Comprehensive Economic Partnership Agreement, which could significantly boost apparel exports to Canada.

Dr A. Sakthivel, Chairman, AEPC, said that the signing of CEPA could double the exports to Canada in next three years, besides creating huge opportunities for investment and job creation.

The comprehensive trade framework will be an economic anchor for expanding bilateral trade and reinvigorating investment based on economic complementarities, he added.

Apparel exports to Canada currently amount to $250 million.

AEPC welcomed the visit of Canadian Prime Minister Mark Carney and his address to the CEO's Forum alongside Prime Minister Narendra Modi, reaffirming a shared commitment to strengthen bilateral economic engagement and pursue a mutually beneficial CEPA.

"The partnership offers a significant opportunity for sustainable energy production, making India an ethical and responsible sourcing destination," Sakthivel said.

The stronger ties will also lead to transfer of technologies and R&D partnerships besides AI and automation which will help industry scale its production and improve upon the global compliances, the industry association said. Both leaders underscored the central role of skilling and talent mobility in advancing people-to-people ties between India and Canada, Chairman AEPC noted.

In New Delhi, Canada and India announced a "Strategic Energy Partnership" that will see Canadian company Cameco supply nearly 22 million pounds of uranium from 2027 to 2035 to fuel India's civil nuclear reactors.

The Canadian government is explicitly tying CEPA to a goal of more than doubling two-way trade to $70 billion by 2030, a recent report said.

PM Modi and his Canadian counterpart discussed restoring diplomatic staffing levels in both countries to their previous strength, an official statement said.

After Carney took over as the Canadian PM, some calibrated steps to restore India-Canada ties have been taken, leading to the appointment of Dinesh K Patnaik as the Indian High Commissioner to Canada.

- IANS

Share this article:

Reader Comments

P
Priya S
Great step forward for trade, but I hope the government ensures strong labor and environmental standards are part of the deal. We don't want growth at the cost of worker welfare. The focus on skilling and technology transfer mentioned is very positive.
R
Rohit P
$250 million to $500 million in 3 years? Ambitious but achievable if we improve our logistics and quality consistency. Canadian market is quality-conscious. The uranium deal for our nuclear plants is the real headline though - that's strategic energy security!
S
Sarah B
As someone living in Toronto, I welcome this. More Indian apparel options here would be wonderful. The diplomatic reset was much needed. Hoping for smoother visa processes and more cultural exchange alongside the trade.
V
Vikram M
Good to see ties getting back on track. The focus should be on making our industry future-ready with the AI and automation partnerships mentioned. Let's not just export more, let's export smarter and with better value addition.
K
Karthik V
While the economic potential is clear, I have a respectful criticism. These announcements often sound great but the ground-level implementation for MSMEs is slow. Hope the AEPC ensures easy access to information and support for smaller exporters to actually benefit.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50