India-Canada aim to conclude CEPA by year-end; triple trade by 2030: Piyush Goyal
Ottawa, May 26
Union Minister of Commerce Piyush Goyal commenced his three-day visit to Canada, as New Delhi and Ottawa focus on resetting their ties with an aim to conclude the Comprehensive Economic Partnership Agreement by the end of this year.
Speaking to the press with Canada's International Trade Minister Maninder Sidhu, Piyush Goyal highlighted the steps taken from both sides to rejuvenate the relationship, mentioning Canadian Prime Minister Mark Carney's visit to India in February 2026, which he said set in "motion the pathway of this relationship."
Underlining the objectives, Goyal said that India not only aims to conclude the trade agreement by the end of this year but also wants to triple the trade between the two countries by 2030.
"We had the visit of Canadian PM Mark Carney in India just a couple of months ago. It completely changed the way India and Canada looked at each other. It has set in motion the pathway of this relationship, setting a new agenda, new goals in mission mode. I can clearly see the speed and intent of both sides.
"Our PMs (Indian PM Narendra Modi and Canadian PM Mark Carney) have tasked us with not only completing the free trade agreement with a comprehensive outlook before the end of this year or earlier but tripling our trade from a current USD 17 million to USD 50 million by 2030," he added.
Goyal said that he has arrived in Ottawa with the largest Indian business delegation in the country's history, showcasing India's commitment towards the relationship. He also expressed confidence in the leadership of Maninder Sidhu, Minister of International Trade, to drive rapid progress in the relationship.
"I've come with the largest ever business delegation that stepped out of India ever in our history. 112 Indian businesses have taken off from India. This clearly demonstrates that there's a huge interest in this partnership. This is a relationship that'll be very important in the years to come. I have full confidence that under Maninder's leadership, we will make rapid progress," he said.
The Union Minister's arrival in Ottawa commences a three-day official visit from 25 to 27 May, taking place as New Delhi and Ottawa aggressively push ahead with negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA), viewed as a vital step in rejuvenating economic relations between the two nations.
Accompanied by a high-powered business delegation comprising senior executives from over 100 prominent Indian enterprises, Goyal's visit spans a diverse array of sectors, including energy, metals and mining, aerospace, telecom, pharmaceuticals, agriculture, tourism, textiles, automotive and capital goods.
Expanding the scope of the high-level political engagement, the Union Minister is also expected to call on Canadian Prime Minister Mark Carney and hold extensive deliberations with Foreign Minister Anita Anand, aimed at deepening bilateral cooperation across strategic and high-growth sectors. Beyond his strictly governmental engagements, Goyal will interact with Chief Executive Officers of major Canadian corporations, prominent start-up founders and top executives from leading pension funds.
The energy sector is anticipated to take centre stage during these interactions. Officials have pointed out that India's surging energy requirements, coupled with Canada's vast natural resource wealth, position the two nations as natural partners across the entire energy spectrum, ranging from traditional hydrocarbons to clean energy transition initiatives.
Furthermore, civil nuclear cooperation is expected to endure as a foundational pillar of the bilateral matrix. Both nations are also aiming to scale up collaboration in science and technology, with a special emphasis on artificial intelligence research, standardisation and fostering innovation ecosystems.
This high-profile visit takes place against the backdrop of a broader thaw in India-Canada relations following a phase of diplomatic strain. Since the middle of 2025, both capitals have actively revived high-level communication across political, economic, strategic and security frameworks. Notably, Canadian Prime Minister Mark Carney's visit to India on March 2 this year served as a catalyst to restart momentum in the relationship, which also witnessed the formal launch of the CEPA negotiations.
— ANI
Reader Comments
This article says current trade is $17 million, but I think that's a typo - it's actually $17 billion. Even so, the target of $50 billion by 2030 is excellent. Our IT and pharma sectors have so much to offer, and Canada's natural resources and energy can benefit India hugely. Hope the CEPA gets done on time!
As a Canadian of Indian descent, this warms my heart. The relationship between our two countries has so much untapped potential. The business delegation of 112 companies is a record and shows India's seriousness. Now we need both governments to keep the momentum going.
Good to see pragmatism winning over politics. India needs reliable partners for energy security and Canada is perfect - stable democracy, abundant resources, and a large Indian diaspora. But I hope the agreement also benefits small Indian farmers and not just big corporations. Fair trade should be the foundation.
Living in Vancouver, I see the benefits of this partnership daily. More Indian students, professionals, and businesses are coming here. Civil nuclear cooperation is especially promising - Canada has uranium, India needs clean energy. Win-win for both countries. Kudos to Minister Goyal and Minister Sidhu for the hustle.
Interesting timing - just after the diplomatic freeze post-2023. The Carney-Modi bonhomie seems to be working wonders. But let's be realistic: past FTAs with other countries haven't always delivered as promised. Need strong safeguards for Indian MSMEs and startups. Also, the article mentions AI collaboration - that's where the real
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.