India, Canada set year-end target for trade pact; new business forum launched

Canada will send a high-level trade mission to India later this year as New Delhi and Ottawa step up efforts to deepen economic engagement and conclude negotiations for a long-pending trade agreement by the end of 2026.

The announcement followed talks between Union Commerce and Industry Minister Piyush Goyal and Canada’s Minister of International Trade Maninder Sidhu, during which the two sides also launched a new Canada-India Trade and Investment Forum aimed at bringing businesses from both countries onto a common platform.

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The developments come amid a renewed push to strengthen commercial ties between the two countries. Officials said both ministers agreed that trade and investment cooperation should deliver tangible benefits for businesses while creating new avenues for growth.

Sidhu said Canada would lead a “Team Canada Trade Mission” to India later this year, signalling growing interest among Canadian companies in the Indian market.

According to a joint statement issued after the meeting, both countries remain committed to finalising a Comprehensive Economic Partnership Agreement (CEPA), with negotiators working towards a year-end deadline.

The proposed pact is expected to improve market access, support supply-chain resilience and create fresh opportunities for businesses on both sides.

During the discussions, the ministers identified a number of sectors where cooperation could be expanded, including clean energy, critical minerals, agri-food, advanced manufacturing, digital technologies and skills development.

Goyal and Sidhu also emphasised the importance of improving connectivity between the two countries, ranging from business mobility and commercial linkages to broader people-to-people engagement.

The newly launched Canada-India Trade and Investment Forum is expected to facilitate direct interaction between industry leaders and help generate new commercial partnerships.

The two countries also agreed to encourage long-term investment in priority sectors and deepen collaboration among businesses, innovators and institutional partners. Both ministers agreed to remain in regular contact as discussions move forward in the coming months.