Ř Bilateral
Engagements in Ottawa and Toronto to Advance Trade, Investment, and CEPA
Negotiations
·
The
visit includes:
o Engagements in Ottawa on May 25.
o A two-day programme in Toronto from May
26–27.
·
The
visit follows the mandate agreed by:
o Narendra Modi and
o Mark Carney
during Prime Minister Carney’s India visit in March 2026.
·
The
initiative aims to revive and deepen bilateral cooperation in:
o Trade
o Investment
o Energy
o Technology
o People-to-people ties
·
A
major focus of the visit is advancing negotiations for the:
o India–Canada Comprehensive Economic
Partnership Agreement (CEPA)
·
Key
developments:
o Terms of Reference for CEPA were signed
during Mark Carney’s India visit in March 2026.
o First round of negotiations was held
virtually in March 2026.
o Second round concluded on May 8, 2026.
o Another negotiation round is scheduled in
Ottawa from May 25–29, 2026.
·
Both
countries are targeting:
o Conclusion of a balanced and mutually
beneficial CEPA by end-2026.
·
India
and Canada aim to increase bilateral trade to:
o CAD 70 billion by 2030
o Approximately INR 4.65 lakh crore
·
Current
bilateral trade:
o USD 8.5 billion in FY25
·
Both
sides see substantial scope for growth across multiple sectors.
The
Indian delegation will engage Canadian stakeholders in several strategic
sectors, including:
·
Artificial
Intelligence
·
Advanced
digital technologies
·
Innovation
partnerships
·
Renewable
energy cooperation
·
Battery
materials and mineral supply chains
·
Energy
transition initiatives
·
Joint
R&D
·
Healthcare
innovation
·
Pharma
manufacturing partnerships
·
Advanced
manufacturing
·
Defence
technology collaboration
·
Supply
chain integration
·
Agricultural
technology
·
Food
value chains
·
Sustainable
agri-business collaboration
·
The
visit reflects renewed efforts by both countries to stabilize and strengthen
economic ties after a prolonged period of diplomatic strain.
·
India
and Canada are seeking:
o Diversified and resilient supply chains.
o Greater investment cooperation.
o Expanded innovation-led economic
engagement.
·
The
business delegation format is intended to facilitate:
o Direct industry partnerships.
o Joint investments.
o Technology collaboration and market access
opportunities.
[ABS News Service/23.05.2026]
Union
Minister of Commerce and Industry, Piyush Goyal, is leading a delegation of Indian business leaders
to Canada, with engagements in Ottawa on May 25 and a two-day programme in Toronto
from May 26 to 27. The visit carries forward 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 renewed momentum to bilateral engagement across trade,
investment, energy, technology, and people-to-people ties.
A
central focus of the visit is the advancement of India–Canada Comprehensive Economic
Partnership Agreement (CEPA) negotiations. The Terms of Reference were signed during
Prime Minister Carney's visit to India in March 2026. The first round of negotiations
was conducted virtually in March and the second round concluded on May 8, 2026.
During this visit, a further round of negotiations will be conducted in Ottawa from
May 25 to 29. Both sides are working towards an early conclusion of a balanced and
mutually beneficial CEPA by end of 2026, with a shared ambition to expand bilateral
trade to CAD 70 billion (approximately INR 4.65 lakh crore) by 2030. Bilateral trade
stands at USD 8.5 billion in FY25, with significant potential for expansion across
sectors.
The
delegation will engage with Canadian counterparts across priority sectors, including
Technology and Artificial Intelligence; Clean Energy and Critical Minerals; Pharmaceuticals
and Biotechnology; Aerospace and Defence; and Food Processing and Agri-tech areas
where India and Canada possess highly complementary strengths and where the opportunity
for joint investment, R&D, and supply chain partnerships is most significant.