May 28: Union Commerce and Industry Minister Piyush Goyal has concluded a high-profile three-day visit to Canada, reinforcing efforts to deepen trade and investment ties between the two countries and accelerate discussions on the proposed Comprehensive Economic Partnership Agreement (CEPA).
The visit brought together one of the largest Indian business delegations ever to travel to Canada, with representatives from more than 100 Indian companies participating in meetings and industry interactions across Toronto and Ottawa. The discussions focused on expanding collaboration in sectors such as clean energy, technology, infrastructure, advanced manufacturing, innovation, and critical minerals.
Speaking at the Munk School of Global Affairs and Public Policy at the University of Toronto, Goyal highlighted India’s economic progress and growing global influence. He stressed that India and Canada have significant opportunities to work together in trade, investment, education, and innovation-driven industries.
A major focus of the visit was strengthening technology partnerships. During his interaction at the Ontario Centre of Innovation and Canada-India Tech Connect, Goyal discussed opportunities in artificial intelligence, quantum computing, agritech, cleantech, and deep technology. He also pointed to India’s expanding startup ecosystem and invited greater collaboration between innovators and businesses from both countries.
The minister held talks with Ontario Premier Doug Ford on broadening economic cooperation in manufacturing, infrastructure, food processing, clean energy, and technology. Discussions also explored opportunities related to critical minerals and supply chain resilience.
Goyal further met senior representatives of major Canadian investment institutions, including Ontario Teachers’ Pension Plan and CPP Investments, to discuss increasing investments in India’s infrastructure, renewable energy, logistics, healthcare, transportation, and digital sectors.
During meetings with regional business chambers and members of the Indo-Canadian community, the minister acknowledged the important role played by businesses and the Indian diaspora in strengthening economic and cultural connections between India and Canada.
The visit concluded with renewed confidence in the long-term economic partnership between the two countries. India and Canada are aiming to raise bilateral trade from around USD 8.5 billion to USD 50 billion by 2030, while continuing negotiations on the CEPA agreement to unlock greater trade and investment opportunities.