Expressing optimism over India’s free trade agreement (FTA) with Canada, Commerce and Industry Minister Piyush Goyal has said that officials of both the countries are negotiating the proposed FTA with full sincerity, and the talks could even be concluded before the end of this year. He said that immense opportunities are there for businesses of both countries to enhance collaborations in areas such as innovation, seafood, education, finance, insurance, biotechnology and pharmaceuticals.
The minister said that both the sides are working on to finalise a very comprehensive economic partnership agreement (CEPA) before the end of the year. He added that Canadian Prime Minister Mark Carney has suggested concluding the negotiations by the end of November, that is, before the G20 Summit. The 2026 G20 Summit is scheduled to be held on December 14-15, 2026, in Miami, United States, under the presidency of the US.
Goyal suggested that India's digital public infrastructure, like UPI, can help in reducing transaction costs in Canada. Critical minerals from Canada can help India become a manufacturing hub for sectors like electric vehicles and electronic goods. Both sides can explore dual-degree in the education sector and, in the future, consider campuses of eminent Indian institutions in Canada while also inviting Canadian institutions to teach Indian students in India.
He noted that the Canadian trade minister will visit India in November this year. The two countries have also set a target to increase the bilateral trade from $17 billion at present to $50 billion by 2030. Meanwhile, two rounds of negotiations have been completed. The third round is going on in Ottawa from May 25 to 29. Both sides in November 2025 announced restarting talks for the pact. Key exports from India to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods and chemicals, among others. Imports include pulses, pearls and semi-precious stones, coal, fertiliser, paper and petroleum crude.
