FIEO expects Piyush Goyal's visit to boost India-Canada economic ties
New Delhi, May 22
The Federation of Indian Export Organisations on Friday said it sees the upcoming visit of Commerce and Industry Minister Piyush Goyal to Canada as an important step towards strengthening bilateral economic and trade relations between the two countries.
The visit from May 25-27 assumes significance at a time when India and Canada are actively working towards reviving negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA), with an ambitious target to enhance bilateral trade to $50 billion by 2030.
FIEO president SC Ralhan said that the federation strongly welcomes the Commerce Minister's visit to Canada. The visit reflects the commitment of both nations to rebuild economic engagement and accelerate discussions on the proposed CEPA. India and Canada share strong complementarities in sectors such as agriculture, clean energy, critical minerals, food processing, education, and advanced manufacturing, which can significantly enhance bilateral trade and investments.
Ralhan further stated that the proposed trade agreement will open new opportunities for Indian exporters, particularly MSMEs, by improving market access, facilitating smoother trade procedures, and encouraging greater collaboration in technology and innovation-driven sectors. Amid evolving global trade dynamics and supply chain realignments, stronger India-Canada trade relations can contribute positively to economic resilience and growth for both countries.
FIEO noted that the renewed engagement between India and Canada comes at a crucial juncture when global markets are witnessing uncertainties arising from geopolitical conflicts, tariff-related disruptions, and changing international trade alignments. Enhanced bilateral cooperation is expected to support diversification of trade partnerships and strengthen supply chain security.
The apex exporters' body also highlighted the increasing momentum in ministerial exchanges and trade missions between the two countries, including the recent engagements between Indian and Canadian trade officials.
FIEO believes that continued dialogue and industry-level cooperation will play a key role in restoring confidence and expanding bilateral commercial ties. The federation expressed confidence that the minister's visit will provide fresh impetus to CEPA negotiations and pave the way for deeper economic integration between India and Canada.
— IANS
Reader Comments
Honestly, I'm cautiously optimistic. Canada has a large Indian diaspora, which should naturally boost trade. But we need to ensure the deal is balanced—not just favoring big corporations. Our farmers and small exporters must get fair access to Canadian markets too. Hope the minister keeps that in mind.
Good to see India diversifying its trade partners. With all the uncertainty from US tariffs and geopolitical conflicts, having stronger ties with Canada makes sense. Let's hope the CEPA negotiations move faster this time—we've been talking about this for over a decade! 😅
As someone who's worked with Indian exporters, I can say Canada is an underrated market. There's huge potential in agri-products, IT services, and pharma. But the visa issues for business travelers need sorting out too. Both sides should streamline processes for trade to really flourish. 🤝
Critical minerals like lithium and cobalt are the future, and Canada has plenty. This is a smart strategic move. But let's not forget—trade deals should also protect Indian interests and not become one-sided. We need strong safeguards for sensitive sectors. Overall, positive step forward!
Great to see diplomatic tensions being set aside for economic progress. The India-Canada relationship has so much untapped potential, especially in education and tech. Fingers crossed this visit leads to concrete outcomes and not just more meetings! 🤞
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