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Informist, Tuesday, May 26, 2026

NEW DELHI - India and Canada reaffirmed commitment to conclude the proposed free trade agreement by end-2026, with Canadian Prime Minister Mark Carney calling the Comprehensive Economic Partnership Agreement a "game changer". Carney, who met Commerce Minister Piyush in Ottawa, said the proposed trade agreement with India will unlock a massive new market for Canadian workers and businesses. 

 

"Both sides reaffirmed their commitment to a balanced, commercially meaningful and ambitious Comprehensive Economic Partnership Agreement and directed their respective teams to work towards an agreement that strengthens economic partnerships and delivers tangible benefits to businesses and citizens of both nations," the commerce ministry said in a release Tuesday. 

Goyal also held discussions with Canada's Minister of International Trade Maninder Sidhu on advancing the India-Canada trade pact negotiations. The two ministers reviewed the negotiations concluded so far and discussed future opportunities to expand trade and investment flows. 

The trade agreement negotiations started after the two sides signed the Terms of Reference in March 2025. India and Canada held virtual talks in March, followed by a second round that concluded on May 8. "A concurrent round of technical negotiations is underway in Ottawa from May 25–29, running in parallel with Minister Goyal's visit, signalling the seriousness and pace both sides are bringing to the process," the ministry said. 

India and Canada have a bilateral trade of approximately $8.5 billion, and both governments have set a shared target of expanding this to $50 billion by 2030. India exported goods worth $4.67 billion to Canada in 2025-26 (Apr-Mar), with merchandise imports of $3.29 billion. 

Goyal also met other senior Canadian leaders and ministers to deepen bilateral cooperation across trade, investment, technology, agriculture, and strategic sectors, the ministry said.  End

 

US$1 = INR 95.42

 

Reported by Shubham Rana
Edited by Vandana Hingorani

 

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