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India, Canada Eye New Trade Era with CEPA Talks & Critical Minerals Focus

Commerce Minister Piyush Goyal met British Columbia Premier David Eby to strengthen the India-Canada economic partnership. Discussions centered on advancing trade, investment, and collaboration in sectors like critical minerals, clean energy, and technology. Goyal is set to lead a trade delegation to Canada with the aim of launching negotiations for a Comprehensive Economic Partnership Agreement (CEPA). This engagement builds on British Columbia's position as India's largest trade partner in Canada, with bilateral trade hitting $2.1 billion.

Key Points: India-Canada Deepen Ties, Launch CEPA Trade Talks

  • Launching CEPA trade deal negotiations
  • Focus on critical minerals & clean energy
  • British Columbia is top trade partner
  • Advancing tech & defense collaboration
  • Part of India's wider 50-nation trade push
2 min read

India, Canada to unlock new opportunities, deepen ties: Piyush Goyal

Commerce Minister Piyush Goyal meets Canadian Premier, aims to unlock opportunities in clean energy, tech, and critical minerals through a new trade deal.

"We reaffirmed the importance of sustained engagement to unlock new opportunities & deepen the ties between both nations. - Piyush Goyal"

New Delhi, Jan 17

Commerce and Industry Minister Piyush Goyal on Saturday met David Eby, Premier of British Columbia, reaffirming the importance of sustained engagement to unlock new opportunities and deepen ties between India and Canada.

In a post on X social media platform, Goyal said he had a productive meeting with Eby.

"Discussions focused on strengthening the India-Canada economic partnership, advancing trade and investment cooperation, and exploring collaboration across sectors such as critical minerals, manufacturing, clean energy, technology, education, defence and innovation," the minister explained.

"We reaffirmed the importance of sustained engagement to unlock new opportunities & deepen the ties between both nations," he added.

Goyal is set to lead a high-level trade and investment delegation to Canada, to advance the trade and commercial engagements between the two countries. According to him, the aim is to launch the Comprehensive Economic Partnership Agreement (CEPA) negotiations with Canada.

India and Canada in November agreed to hold sustained ministerial engagements with the trade and investment community in both countries early next year.

British Columbia is India's largest trade partner in Canada, with bilateral trade touching $2.1 billion in 2024, representing about 25 per cent of Canada's exports to India, according to Kahlon. It has 12,000 tech companies and has the fastest growing life sciences sector in the country.

Eby recently highlighted that a recent trade mission to Asia resulted in significant projects, including LNG Phase 2 which is expected to reach a final investment decision this year.

India is currently engaged in discussions on fair and balanced trade deals with 14 countries or groups representing nearly 50 nations, including the United States, the European Union, GCC countries, New Zealand, Israel, Eurasia, Canada, South Africa and the Mercosur group.

- IANS

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Reader Comments

R
Rohit P
$2.1 billion with just BC is impressive! Imagine the potential with a full CEPA. Critical minerals and defence collaboration sound promising. Hope this leads to more job creation and tech transfer back to India.
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David E
As someone living in Vancouver, the India-Canada relationship is vital for our local economy too. The tech and life sciences sectors here have huge potential for collaboration with Indian companies. Glad to see engagement continuing.
A
Anjali F
While the economic focus is good, I hope our government also firmly addresses the concerns about political interference and the safety of our diplomats. Trade and security must go hand in hand. The relationship needs to be respectful on all fronts.
K
Karthik V
Good move. Diversifying our trade partnerships is smart strategy. With talks going on with so many blocs, we shouldn't be dependent on any single country. Canada is a natural partner given the diaspora connect. Hope the CEPA negotiations are fruitful.
S
Sarah B
The emphasis on education collaboration is key. So many Indian students choose Canada. Streamlining processes and creating more research partnerships between universities would be a win-win for innovation in both countries.

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