6 months ago
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India and Canada person agreed to resume negotiations for a Free Trade Agreement (FTA) with an purpose to summation the two-way commercialized to $50 cardinal by 2030, according to Commerce and Industry Minister Piyush Goyal.
An FTA oregon Comprehensive Economic Partnership Agreement (CEPA) has galore strategical elements to it and it is simply a objection of the spot betwixt the 2 countries, Goyal said present astatine an lawsuit connected Monday (November 24, 2025).
The pact would springiness assurance to investors, businesses of some sides, helium said.
"We person agreed to statesman negotiations connected a high-ambition CEPA and treble the commercialized betwixt the 2 nations by 2030," helium said, adding the 2 countries are earthy allies and bash not vie with each other.
The strengths of India and Canada tin go a unit multiplier for businesses and investors, Mr. Goyal said.
"There is simply a batch that we tin larn from Canada and a batch we tin connection Canada. There is simply a batch of imaginable connected captious minerals, captious minerals processing technologies. There is simply a bully anticipation connected atomic vigor - peculiarly with our engagement with Canada connected Uranium supplies," helium said, adding, "we tin diversify our proviso chains connected some sides".
In 2023, Canada had paused negotiations for an FTA with India. The India-Canada relations deed stone bottommost pursuing past Prime Minister Justin Trudeau's allegations successful 2023 of a imaginable Indian nexus to the sidesplitting of Hardeep Singh Nijjar. India had dismissed Trudeau's accusation arsenic "absurd".
In March 2022, the 2 countries had re-launched negotiations for an interim agreement, officially dubbed arsenic Early Progress Trade Agreement (EPTA).
Over fractional a twelve rounds of talks person been held connected the commercialized pact truthful far.
Normally successful a commercialized agreement, 2 countries importantly trim oregon destruct customs duties connected the maximum fig of goods traded betwixt them. They besides liberalise norms for promoting commercialized successful services and pull investments.
India's exports to Canada roseate 9.8% to $4.22 cardinal successful 2024-25 from $3.84 cardinal successful 2023-24. Imports, however, dipped 2.33% to $4.44 cardinal successful the past fiscal twelvemonth from USD 4.55 cardinal successful 2023-24.
The renewed vibrancy successful ties betwixt the 2 countries followed Prime Minister Narendra Modi's talks with his Canadian counterpart Mark Carney connected the sidelines of the G7 acme astatine Canada's Kananaskis successful June.
Bilateral commercialized successful goods and services betwixt India and Canada stood astatine $18.38 cardinal successful 2023.
There are astir 2.9 cardinal Indian diaspora and implicit 4,27,000 Indian students successful Canada.
