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Union Minister of Commerce & Industry Piyush Goyal will lead a high-level visit to Canada from May 25-27 to push forward India-Canada Comprehensive Economic & Partnership Agreement (CEPA) negotiations and engage in key business and industry dialogues.
According to the press release by the Ministry of Commerce and Industry, "Senior representatives from over 100 Indian businesses are accompanying Goyal from sectors like metals & mining, energy, automotive & capital goods, aerospace, tourism, leather & textiles, agriculture, telecom & pharmaceuticals, among others." During his visit, Goyal will meet Maninder Sidhu, Minister of International Trade, and review the progress of India-Canada CEPA, and explore new opportunities for trade & investments. In FY2025-26, the bilateral trade between both countries was around USD 8 billion, out of which India's exports were USD 4.67 billion and India's imports were USD 3.28 billion. The Minister will call on the Prime Minister of Canada, Mark Carney, and hold a series of bilateral meetings, including with Anita Anand, Minister of Foreign Affairs, to strengthen strategic cooperation across priority sectors. HCIM will also interact with CEOs of leading Canadian companies, startups, and pension funds. Energy security and energy transition are defining priorities for both our nations. Canada's vast energy and natural resource base and India's expanding energy requirements create strong complementarities. Further, the civil nuclear cooperation between India and Canada remains a cornerstone of the energy partnership. Science and technology cooperation have a strong foundation, supported by regular institutional engagement. There is substantial scope for deeper India-Canada collaboration in AI research, standards, and innovation ecosystems. The sustained high-level engagement between India and Canada since mid-2025, including the recent visit of Prime Minister Carney to India on March 2, 2026, has contributed significantly towards restoring momentum in the bilateral relationship & people-to-people ties. The negotiations of the India-Canada CEPA were also launched during this visit. An official delegation from Canada visited New Delhi from 4-7 May 2026 to conduct the second round of negotiations of the India-Canada CEPA. HCIM would be accompanied by officials to continue the second round of negotiations for the India-Canada CEPA. Both countries are committed to fast-tracking the negotiations. Both sides have envisioned increasing the bilateral trade between India and Canada to USD 50 billion by 2030. Canada has a large 2.8 million Indian Diaspora (1.8 million Indo-Canadians and about 1 million NRIs, including students) who are a living bridge between the two nations. India takes great pride in its diaspora and their achievements in Canada. India and Canada have resumed structured engagement through strategic and security channels alongside the broader political and economic renewal in bilateral relations. The visit is expected to explore cooperation across key sectors of mutual importance, strengthen the mutual trust, and impart greater momentum to a partnership that has the potential to expand exponentially. (ANI)
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