India and Canada have taken significant steps toward strengthening their economic relationship, with both countries expressing optimism about concluding the long-awaited Comprehensive Economic Partnership Agreement (CEPA). During a high-level meeting in Canada, Union Commerce and Industry Minister Piyush Goyal and Canadian Prime Minister Mark Carney discussed expanding bilateral cooperation and accelerating trade negotiations between the two nations.
The discussions are being viewed as a major effort to rebuild and deepen India-Canada ties after a period of diplomatic challenges. Both sides emphasized the importance of economic collaboration and highlighted the potential benefits of a comprehensive trade agreement for businesses, workers, and investors in both countries.
After meeting Prime Minister Carney, Piyush Goyal shared that he conveyed greetings from Prime Minister Narendra Modi and recalled Carney’s recent visit to India, which reportedly helped create renewed confidence and fresh momentum in bilateral relations. Goyal stated that the talks focused on expanding cooperation across multiple sectors and achieving an early conclusion of the CEPA negotiations.
According to the Indian minister, the proposed trade pact has the potential to unlock new opportunities for economic growth and prosperity for both countries. He stressed that India sees Canada as an important long-term economic partner and believes stronger trade ties can create significant business opportunities in the future.
Canadian Prime Minister Mark Carney also expressed strong support for the proposed agreement. In a public statement, he described the CEPA negotiations as a “game changer” for Canadian workers and businesses. Carney emphasized that the trade deal would open access to one of the world’s fastest-growing markets and strengthen economic cooperation between the two democracies.
The Canadian leader noted that discussions are progressing quickly and that both countries are exploring collaboration in sectors such as energy, agriculture, food processing, technology, and education. These industries are expected to play a crucial role in shaping the future partnership between India and Canada.
Piyush Goyal’s visit to Canada is part of a three-day official trip aimed at accelerating negotiations and boosting economic engagement. During the visit, the minister highlighted the strong political commitment shown by both governments toward improving bilateral ties. He said the leaders of both nations have set ambitious goals not only to finalize the free trade agreement by the end of the year but also to significantly increase trade volumes by 2030.
Currently, trade between India and Canada stands at around USD 17 billion. However, both governments are targeting a major increase, with plans to raise bilateral trade to nearly USD 50 billion within the next few years. Officials believe that a successful CEPA agreement could play a critical role in achieving this target.
One of the most notable aspects of Goyal’s visit was the participation of a large Indian business delegation. The minister stated that over 100 Indian companies accompanied him to Canada, making it one of the largest business delegations ever sent abroad by India. The move reflects growing interest among Indian businesses in exploring opportunities in the Canadian market.
Experts believe that the renewed push for a trade agreement comes at a crucial time for both countries as they seek to diversify global trade partnerships and strengthen economic resilience. India’s rapidly expanding economy and Canada’s strong resource and technology sectors are seen as complementary strengths that could benefit both sides.
Political observers also note that improving economic relations may help rebuild broader diplomatic trust between New Delhi and Ottawa. The successful completion of the CEPA agreement could mark a turning point in India-Canada relations and lay the foundation for stronger strategic cooperation in the years ahead.
