India and Canada are moving aggressively toward strengthening their economic partnership as Union Commerce and Industry Minister Piyush Goyal began a three-day Canada visit while leading the largest-ever Indian business delegation to the country. The high-profile visit, covering Ottawa and Toronto, is focused on accelerating negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA), which both nations aim to finalize by the end of 2026. During his meetings with Canadian Prime Minister Mark Carney, International Trade Minister Maninder Sidhu, Agriculture Minister Heath MacDonald, and Foreign Minister Anita Anand, Goyal emphasized expanding cooperation in trade, technology, investment, renewable energy, artificial intelligence, agriculture, logistics, and digital infrastructure. Prime Minister Carney reportedly described the proposed India-Canada free trade agreement as a “game changer”, highlighting its potential to unlock massive economic opportunities and deepen access to one of the world’s fastest-growing markets. Goyal also conveyed greetings from Prime Minister Narendra Modi and recalled Carney’s recent India visit, which both sides said injected fresh momentum into bilateral ties. Officials confirmed that CEPA negotiations have accelerated significantly since the Terms of Reference were signed in March 2025, with multiple rounds of discussions already completed and another technical negotiation round currently underway in Ottawa. Both countries have reaffirmed their commitment to creating a balanced, commercially meaningful, and ambitious agreement capable of generating long-term benefits for businesses and citizens alike.
The visit is also being viewed as a major signal of India’s growing global economic influence and Canada’s increasing interest in deeper engagement with India’s expanding market. Goyal later attended a reception hosted by Minister Sidhu, where he highlighted India’s rapid economic growth, entrepreneurial ecosystem, skilled workforce, and strong investment potential. The Indian delegation includes representatives from more than 100 companies across sectors such as energy, mining, pharmaceuticals, automotive goods, telecommunications, artificial intelligence, leather, and textiles. In Toronto, the delegation is expected to participate in several business-to-business meetings, investment discussions, and industry roundtables aimed at converting diplomatic conversations into real commercial partnerships. Agriculture and food processing also emerged as important discussion points, with both sides exploring opportunities to improve food security, sustainability, and agri-technology collaboration. Meanwhile, Goyal acknowledged the crucial role played by the Indian diaspora in strengthening economic and cultural relations between the two countries. At present, India and Canada share bilateral trade worth nearly USD 8.5 billion, but both governments have set an ambitious target of expanding trade volumes to USD 50 billion by 2030. Analysts believe that if the CEPA is finalized successfully, it could become one of the most transformative trade agreements for both nations, opening new doors for investment, innovation, exports, and long-term strategic cooperation in a rapidly evolving global economy.
