India, Canada decide to resume FTA talks, double bilateral trade by 2030
This story was originally published at 16:27 IST on 24 November 2025
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NEW DELHI – After a year's break, India and Canada have decided to resume free trade agreement negotiations and also finalised the terms of reference for carrying it out, Commerce and Industry Minister Piyush Goyal said Monday. "We have agreed to begin negotiation for a high ambition Comprehensive Economic Partnership Agreement and double the trade between the two nations by 2030," he said.
"Canada and India are natural allies, we don't compete with each other, we actually complement each other. The strengths of Canada and the strengths of India can together become a force multiplier for businesses, investors," Goyal said while speaking at the Indo-Canadian Business Chamber's Annual National Convention.
According to Goyal, there is a lot that India can learn from Canada and a lot that it can offer to Canada. "We have tremendous potential for critical minerals, critical minerals processing technologies, there's a good possibility on nuclear energy particularly with our engagement with Canada on Uranium supplies, we can diversify our supply chain on both sides of the ocean, we can focus on emerging technologies like artifical intelligence with data centres, quantum computing, machine learning," Goyal said.
Critical minerals, clean energy, aerospace and defence capabilities, and bringing Canadian technologies to India's manufacturing sector are some of the key areas of cooperation, he said. Goyal suggested a five step process to build on the mutual relationship and also appreciated Canadian pension funds that have been at the forefront of steady investments in India.
Free trade agreement talks between India and Canada resumed after a decade in March 2022 but have been paused since September 2023 owing to the sour bilateral relations. India-Canada relations suffered a major setback in September 2023 when Canadian Prime Minister Justin Trudeau alleged that the Indian government had a hand in the assassination of Nijjar, a Canada-based Khalistan separatist whom New Delhi designated as a terrorist. However, India had since rejected the charges as absurd and motivated. The Canadian authorities had also arrested four Indian nationals in connection with the murder of Nijjar. This exacerbated tensions between the two nations.
Although trade negotitions were at halt, usual trade continued between two the countries. In 2024-25 (Apr-Mar), India's trade with Canada totalled $8.7 billion, with exports worth $4.2 billion. End
US$1 = INR 89.23
Reported by Priyasmita Dutta
Edited by Akul Nishant Akhoury
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