Ottawa/New Delhi, May 26: India and Canada have moved into a new phase of economic engagement with high-level trade discussions in Ottawa, followed by an intensive programme of industry roundtables and business-to-business (B2B) meetings in Toronto aimed at strengthening commercial partnerships across key sectors.
Union Commerce and Industry Minister Piyush Goyal is leading a high-level Indian business delegation comprising representatives from over 100 companies, marking one of the largest such engagements between the two countries in recent years.
The visit builds on the broader strategic understanding between Prime Minister Narendra Modi and Canadian leadership, with both sides reaffirming their commitment to deepening economic cooperation and accelerating negotiations for the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA).
Currently, bilateral trade between India and Canada stands at around $8.5 billion, with both countries setting an ambitious target to increase it to $50 billion by 2030 through enhanced trade facilitation and investment flows.
In Ottawa, Goyal held a series of discussions with senior Canadian ministers and leadership, focusing on expanding cooperation in trade, investment, agriculture, technology, energy transition, and innovation-driven sectors.
During his meeting with Canadian Prime Minister Mark Carney, both sides expressed optimism about the early conclusion of CEPA, which is expected to significantly expand market access and strengthen supply chain linkages between the two economies.
Goyal also engaged with Canada’s Minister of International Trade Maninder Sidhu, Agriculture and Agri-Food Minister Heath MacDonald, and Foreign Minister Anita Anand, discussing opportunities in agri-technology, food security, clean energy, digital infrastructure, and manufacturing partnerships.
A key focus of the visit is to translate policy-level understanding into business outcomes through structured B2B sessions in Toronto, where industry leaders from both countries are expected to explore partnerships in infrastructure, renewable energy, logistics, financial services, and advanced manufacturing.
Officials noted that India’s rapidly expanding economy, combined with Canada’s strengths in technology, education, and natural resources, presents strong complementarities for long-term collaboration.
The ongoing engagement is expected to further strengthen bilateral economic ties and create new opportunities for investment, innovation, and job creation in both countries as CEPA negotiations progress.