India, May 23 -- The Government of India has issued a release:
Union Minister of Commerce and Industry, Shri Piyush Goyal, will lead a delegation of Indian business leaders to Canada. The delegation will participate in a two-day engagement in Ottawa on May 25th and in Toronto from May 26th to 27th. This visit builds on the mandate given by the Prime Ministers of India and Canada during Prime Minister Mark Carney's visit to India in March 2026 and seeks to impart new momentum to bilateral cooperation in the areas of trade, investment, energy, technology, and people-to-people ties.
The primary objective of this visit is to advance the negotiations on the India-Canada Comprehensive Economic Partnership Agreement (CEPA). Its terms were signed during Prime Minister Carney's visit to India in March 2026. The first round of negotiations was held virtually in March, and the second round concluded on May 8, 2026. During this visit, another round of negotiations will take place in Ottawa from May 25 to 29. Both sides are working toward the early finalization of a balanced and mutually beneficial CEPA by the end of 2026, with the shared goal of increasing bilateral trade to 70 billion Canadian dollars (approximately Rs.4.65 lakh crore) by 2030. Bilateral trade was US$8.5 billion in fiscal year 2025. There is immense potential for expansion across all sectors.
The delegation will hold discussions with Canadian counterparts in priority sectors including technology and artificial intelligence; clean energy and critical minerals; pharmaceuticals and biotechnology; aerospace and defence; and food processing and agri-tech sectors. India and Canada have highly similar capabilities in these areas and opportunities for joint investment, R&D and supply chain partnerships are most significant.
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