India and Canada Target Free Trade Deal by November End; Bilateral Trade Goal Rises to $50 Billion

India and Canada have accelerated efforts to strengthen economic ties as both countries push to finalise a comprehensive trade agreement within the current year, alongside broader plans to significantly expand bilateral trade, investment and sectoral partnerships over the coming decade. 

FTA Negotiations Gain Momentum During Ottawa Visit 

Piyush Goyal, Commerce and Industry Minister of India, is currently on a 3 day official visit to Ottawa beginning May 25, where the third round of negotiations for the proposed Comprehensive Economic Partnership Agreement is taking place between May 25 and May 29. 

According to Goyal, both governments have been tasked with completing the agreement before the end of the year, with discussions now moving at a faster pace. 

The minister said the objective is to finalise a comprehensive trade framework that reduces tariffs, lowers non-tariff barriers and opens additional investment opportunities for businesses in both countries. 

Goyal also mentioned that Canadian leadership is now targeting an even earlier timeline for the conclusion of negotiations, potentially by the end of November. 

Business Delegations and Strategic Sectors in Focus 

The Indian delegation accompanying Goyal includes more than 100 business leaders representing sectors such as energy, mining, automotive goods, pharmaceuticals, telecom, artificial intelligence, textiles and leather. 

During the visit, Mark Carney, Prime Minister of Canada, said the proposed agreement could become “a game changer” for businesses and workers by opening access to a significantly larger market. 

Discussions between the 2 sides covered sectors including energy, agri-food, education and technology. 

India-Canada bilateral trade stood at $8.66 billion in FY25. India’s exports to Canada include pharmaceuticals, seafood, iron and steel, cotton garments, electronics and chemicals, while imports from Canada include coal, pulses, fertilisers, petroleum crude, paper and semi-precious stones. 

Technology, Agriculture and Education Partnerships Expand 

Goyal also met Anita Anand, Foreign Minister of Canada, where discussions focused on strengthening trade, investment and technology partnerships between the 2 countries. 

Separately, meetings with Heath MacDonald, Canada’s Minister for Agriculture and Agri-Food, explored collaboration opportunities in food processing, sustainability, agri-tech and food security aimed at improving incomes for Indian farmers and producers. 

Maninder Sidhu, Canada’s Minister for International Trade, said a “Team Canada” business delegation is expected to visit India later this year as both countries work toward increasing bilateral trade to $50 billion by 2030. 

Goyal described the target as “eminently doable”. 

Read More: Air India and IndiGo to Cut Domestic Flight Operations Due to Soaring ATF Prices and Low Demand! 

Conclusion 

The ongoing India-Canada trade negotiations signal a broader attempt by both countries to rebuild economic momentum through deeper cooperation in trade, investment, technology, education and agriculture while targeting a major expansion in bilateral commerce by the end of the decade.   

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