Canada optimistic about trade deal with India by year-end, minister says

Mumbai: Canada is optimistic about concluding negotiations on a comprehensive economic partnership agreement (CEPA) with India by year-end, the country's minister for ​international trade said on Saturday.

Canadian Prime Minister Mark Carney had ‌previously said during a trip to New Delhi in March that the two countries would aim to agree a free trade pact by the end of the year.

Canada's International Trade Minister Maninder Sidhu met in Mumbai on Friday to review headway achieved concerning ongoing discussions regarding the prospective Comprehensive Economic Partnership Agreement (CEPA). 

The deliberations hold considerable significance as both nations target finalising the trade pact by the culmination of the current year.

Highlighting the engagement on social media, Goyal stated, "Both sides reaffirmed our leadership's commitment to expedite negotiations and conclude CEPA at the earliest, unlocking new opportunities across trade in goods, services and investment, among others."

He further noted that an expeditious finalisation of the agreement will substantially expand two-way commerce, building upon talks held as chief negotiating teams representing both governments completed their fourth round of discussions in the city during the week.

Commenting on the economic targets, Sidhu posted on social media, "Two-way trade reached USD 30.4 billion in 2025. Our goal is clear: more than double that to USD 70 billion by 2030, opening new opportunities for Canadian workers and businesses."

He underscored that vast potential exists across sectors ranging from aerospace and artificial intelligence to renewable power and essential minerals, adding, "I'll also meet with Indian business leaders and investors to make the case for investing and growing in Canada."

Principal commodities dispatched from India to Canada encompass pharmaceuticals, iron and steel, marine products, cotton apparel, electronic items and chemicals, while primary shipments originating from Canada feature pulses, pearls and semi-precious stones, coal, fertilisers, paper, along with crude petroleum, alongside Indian service sector shipments directed to Canada being spearheaded by telecommunication services, computer and information technology solutions, and miscellaneous commercial services.