India, Canada to soon start talks for terms of reference for trade pact: Commerce and Industry Minister Mr. Piyush Goyal
- IBEF
- December 23, 2025
According to a report, the Union Minister of Commerce and Industry, Mr. Piyush Goyal, announced that India and Canada will start discussing the Terms of Reference (ToR) to set up a Free Trade Agreement (FTA). According to the Minister, both countries want to begin formal engagement again in trade matters and will formulate the groundwork for upcoming negotiations. Consequently, the ToR discussions will define the affected areas, objectives, and framework of the proposed trade agreement. This will allow both nations to move forward with their respective discussions regarding bilateral trade relations.
The proposed engagement will allow both countries to identify their mutual interests while providing a venue to discuss trade-related issues through dialogue. The start of the discussions regarding the terms of reference will provide the foundation for increasing two-way flows between these countries, as well as provide a benchmark for other negotiations. Furthermore, this will be consistent with India's general approach to enhance its economic partnership with developed countries, as well as to diversify its trade relationships. Overall, this creates renewed interest in the relationship between India and Canada, as well as signals that both countries are interested in establishing a beneficial trading relationship with one another.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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