India, Canada push for trade deal as CEPA talks continue

The fifth round of negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA) was held in Ottawa from 5 to 9 October.

Sidhu also met Indian Commerce and Industry Minister Piyush Goyal on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee, the United States, on 1 October. They discussed progress in the negotiations and ways to strengthen bilateral trade and investment ties.

India and Canada renewed efforts to reach a comprehensive trade agreement during Canadian Prime Minister Mark Carney’s visit to India in March. The two countries set a target of increasing bilateral trade to CAD 70 billion by 2030.

Bilateral trade reaches CAD 30.4 billion

Trade in goods and services between India and Canada totalled CAD 30.4 billion in 2025, according to Canadian government data.

Canada’s merchandise exports to India amounted to CAD 3.9 billion, led by vegetables, mineral fuels and oils, and wood pulp. Its merchandise imports from India stood at CAD 9.7 billion, comprising mainly precious stones and metals, machinery, and pharmaceutical products.

Canada seeks to diversify export markets

Canada is seeking to diversify its export markets beyond the United States, with India playing a key role in its strategy to expand trade with other countries, according to the statement.

Launched in 2022, Canada’s Indo-Pacific Strategy identifies trade, security, sustainability, people-to-people ties and regional engagement as its five strategic objectives.

The trade mission is expected to give Canadian businesses opportunities to explore partnerships in India as negotiations on the proposed CEPA continue.