Indian Economy News

India and Canada reaffirm commitment to US$ 50 billion trade target and early CEPA conclusion

India and Canada reaffirmed their commitment to strengthening bilateral economic ties, with both sides agreeing to work towards a Rs. 4.79 lakh crore (US$ 50 billion) bilateral trade target by 2030 and accelerate negotiations on the India-Canada Comprehensive Economic Partnership Agreement (CEPA). During a series of engagements in Toronto, discussions focused on expanding cooperation across advanced manufacturing, pharmaceuticals, biotechnology, clean technology, energy and oil and gas. The Canada-India Building Bridges event brought together more than 150 representatives from businesses, investor groups and industry associations, highlighting the growing complementarities between the two economies and the need for a more predictable and business-friendly environment supported by stronger government-industry collaboration. A Team Canada Trade Mission to India is also scheduled for November 2026 to explore opportunities in Artificial Intelligence, critical minerals, semiconductors, renewable energy, clean technology and digital infrastructure.

The visit also featured the Canada-India Investment Roundtable, attended by leading Canadian pension funds, banks and institutional investors. Discussions centred on India’s infrastructure development agenda, financial sector reforms and continued improvements in ease of doing business, which are creating significant opportunities for global investors. Potential areas for deeper collaboration include clean energy, technology, manufacturing, digital infrastructure and supply chain diversification, supported by India’s strong macroeconomic outlook, expanding network of trade agreements, Production Linked Incentive (PLI) schemes and growing ecosystem of Global Capability Centres (GCCs). Engagements with Canadian companies across insurance, food processing, banking and critical minerals processing further reinforced interest in the Indian market. The visit, accompanied by the largest-ever Indian business delegation to Canada comprising representatives from more than 100 companies, is expected to strengthen trade, investment and technology partnerships while supporting and expanding of India-Canada economic relations.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.