In a significant step toward strengthening bilateral relations, India and Canada have concluded the third round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in Ottawa from July 6-10, 2026. The two countries are aiming to conclude the negotiations by the end of this year. The five-day discussions covered a wide range of issues, including trade in goods and services, intellectual property rights, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade, among others.
The Department of Commerce said the negotiations registered positive progress across multiple tracks, reaffirming the commitment of both sides to conclude the agreement in 2026, in line with the vision outlined by their leaders. The talks are significant as India and Canada have set a target to increase bilateral trade to $50 billion by 2030.
Key Indian exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods, and chemicals. The main imports include pulses, pearls and semi-precious stones, coal, fertilisers, paper, and crude petroleum. India's principal services exports to Canada include telecommunications, computer and information services, and other business services. Canada is also home to more than 425,000 Indian students and a strong Indian community.
Bilateral trade between the two countries declined 8.22 per cent to $7.95 billion in 2025-26, compared with $8.66 billion in 2024-25. India's exports to Canada rose to $4.67 billion from $4.22 billion, while imports fell to $3.28 billion from $4.44 billion during the period. Canada has a population of 41.65 million (2025) and a GDP of $2.34 trillion on a purchasing power parity basis.
