India and Canada to continue CEPA negotiations as minister visits Ottawa and Toronto from May 25–27

Commerce and Industry Minister Piyush Goyal will lead a business delegation of more than 150 members to Canada from May 25–27 to discuss investments, strengthen collaborations, and advance negotiations on the proposed free trade agreement (FTA).

The visit will include meetings with political leaders, businesses, and investment groups in Ottawa and Toronto, while both countries continue negotiations on the Comprehensive Economic Partnership Agreement (CEPA).

Minister to hold meetings with Canadian leadership and investors

During the visit, Piyush Goyal is scheduled to meet Canadian Prime Minister Mark Carney and hold a bilateral meeting with his Canadian counterpart Maninder Sidhu.

The minister also stated that he would meet representatives of Canada’s “Maple 8” pension funds, which together manage assets worth approximately 2.4 trillion Canadian dollars and are considered among the world’s major long-term investors.

The “Maple 8” includes the Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan, and Ontario Municipal Employees Retirement System. These funds invest across sectors including infrastructure, technology, real estate, energy, and private equity globally.

Goyal said the meetings are intended to attract investments into India.

India and Canada target $50 billion bilateral trade

According to the minister, around 600 Canadian companies currently operate in India, and discussions are underway to increase that number to 1,000.

He stated that the two countries aim to increase bilateral trade to $50 billion within the next five years. Bilateral trade between India and Canada stood at $8.66 billion in 2024-25, including $4.22 billion in exports and $4.44 billion in imports.

India and Canada are currently negotiating the Comprehensive Economic Partnership Agreement (CEPA), and two rounds of negotiations have already been completed. The third round is scheduled to take place in Ottawa from May 25 to 29.

Officials from both countries are working towards concluding a balanced and mutually beneficial CEPA by the end of 2026.

Delegation to focus on strategic sectors

The minister’s delegation is expected to engage with Canadian counterparts across sectors including Technology and Artificial Intelligence, Clean Energy and Critical Minerals, Pharmaceuticals and Biotechnology, Aerospace and Defence, and Food Processing and Agri-tech.

According to officials, these sectors offer opportunities for joint investments, research and development, and supply chain partnerships between India and Canada.

Canada has a population of 41.65 million people in 2025 and a GDP of $2.34 trillion at purchasing power parity.

Trade and services sectors remain key focus areas

India’s major exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods, and chemicals.

Imports from Canada include pulses, pearls and semi-precious stones, coal, fertiliser, paper, and petroleum crude.

India’s key services exports to Canada include telecommunications, computer and information services, and other business services.

Canada is also home to more than 4,25,000 Indian students and a large Indian community.

Joint Secretary in the Department of Commerce, Brij Mohan Mishra, is serving as the chief negotiator for the Indian side, while Bruce Christie is Canada’s chief negotiator.