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India-Canada Launch CEPA Talks, Target $50 Billion Trade by 2030

India and Canada have formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in New Delhi. The two nations have set an ambitious target of achieving $50 billion in bilateral trade by the year 2030. The Terms of Reference for the agreement were signed by Commerce Minister Piyush Goyal and Canada's Trade Minister Maninder Sidhu in the presence of Prime Ministers Narendra Modi and Mark Carney. The agreement aims to cover trade in goods and services and build upon a current trade relationship valued at $8.66 billion.

Key Points: India-Canada CEPA Negotiations Launch, $50B Trade Goal

  • Target $50B trade by 2030
  • CEPA covers goods, services, and policy
  • ToR signed by Piyush Goyal and Maninder Sidhu
  • Follows 2025 G7 side talks
2 min read

India, Canada launch CEPA negotiations in New Delhi; Target $50 billion bilateral trade by 2030

India and Canada launch CEPA negotiations, aiming for $50 billion bilateral trade by 2030. PM Modi and PM Carney oversee the agreement's start.

"new ambition, focus, and foresight - Prime Minister Mark Carney"

New Delhi, March 2

India and Canada have set a target of achieving USD 50 billion in bilateral trade by 2030 as the two countries formally launched negotiations for a Comprehensive Economic Partnership Agreement in New Delhi on Monday.

According to the Ministry of Commerce & Industry, the Terms of Reference (ToR) for the India-Canada CEPA were signed by Union Commerce and Industry Minister Piyush Goyal and Canada's Minister of International Trade Maninder Sidhu on March 2, 2026, and exchanged in the presence of Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney at Hyderabad House.

During the ceremony, Prime Minister Modi highlighted that the goal for bilateral trade is to reach USD 50 billion by 2030, underlining the need to unlock the full potential of economic cooperation through the early conclusion of the CEPA. Prime Minister Carney described the agreement as an expansion of a valued partnership marked by "new ambition, focus, and foresight."

The ToR outlines the format, frequency and approach for negotiations and will serve as a guiding framework to conclude an ambitious, balanced and mutually beneficial agreement. The development follows discussions between the two leaders on the margins of the G7 meeting in Kananaskis, Canada, in October 2025, where both sides agreed to advance CEPA negotiations.

The proposed agreement will cover trade in goods and services, along with other mutually agreed policy areas. Bilateral trade between the two countries stood at USD 8.66 billion in FY 2024-25, with India exporting goods worth USD 4.22 billion and importing USD 4.44 billion, according to DGCI&S data cited in the release.

Key Indian exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronics and chemicals, while major imports comprise pulses, coal, fertilisers and crude petroleum. The release noted that Canada hosts over 4.25 lakh Indian students and a vibrant Indian diaspora, with the agreement poised to further strengthen people-to-people ties, which constitute "One Family", would be further reinforced by the conclusion of India- Canada CEPA.

- ANI

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Reader Comments

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Sarah B
As someone who works in trade logistics, the numbers are telling. We went from $8.66 billion to a $50 billion target? That's a massive leap. The framework needs to be very robust, especially on services and digital trade, not just goods. A good start, but the devil is in the details.
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Priya S
More than trade, this will help our students and professionals in Canada. Easier movement of skilled workers should be a key part of the agreement. Also, hope we get better access for our textiles and garments, which face stiff competition.
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Rohit P
Good news, but let's be practical. Past trade targets with other countries have often been missed. The government must ensure our farmers and MSMEs are protected, especially with Canadian agricultural imports like pulses. "Mutually beneficial" should not become a one-way street.
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Michael C
The strategic timing is interesting, especially after the diplomatic strains a few years ago. Focusing on economics to rebuild ties is a smart move. Canada's resources and India's manufacturing can complement each other well.
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Kavya N
Finally! This has been in the works for so long. As an exporter, simpler customs procedures and reduced tariffs will make a huge difference. Hope they also address non-tariff barriers which are often the real hurdle. Jai Hind!

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