India, Canada signal renewed momentum in trade talks for CEPA deal

India's Commerce Minister Piyush Goyal and Canadian PM Mark Carney signalled renewed momentum in bilateral trade talks, expressing optimism towards an early conclusion of the Comprehensive Economic Partnership Agreement (CEPA) to boost growth.

India and Canada signalled renewed momentum in bilateral trade negotiations, with Union Commerce and Industry Minister Piyush Goyal and Canadian Prime Minister Mark Carney highlighting progress towards a Comprehensive Economic Partnership Agreement (CEPA).

In a post on X on Monday (local time), Goyal said he called on Carney and conveyed greetings from Prime Minister Narendra Modi while discussing ways to deepen ties between the two countries.

Goyal Optimistic on Early CEPA Conclusion

"Called on the Prime Minister of Canada, Mark J Carney, and conveyed warm greetings from Prime Minister Narendra Modi. Fondly recalled his recent visit to India, which has imparted fresh momentum and renewed confidence to the India-Canada partnership," Goyal said.

Called on the Prime Minister of Canada, Mr. @MarkJCarney, and conveyed warm greetings from Prime Minister @NarendraModi ji. Fondly recalled his recent visit to India, which has imparted fresh momentum and renewed confidence to the India-Canada partnership. We had forward-looking… https://t.co/cMueCqDrrV pic.twitter.com/MhzoD499lo — Piyush Goyal (@PiyushGoyal) May 26, 2026

He added, "We had forward-looking discussions on further deepening bilateral cooperation and expressed optimism towards the early conclusion of the India-Canada Comprehensive Economic Partnership Agreement (CEPA), which would unlock new avenues of growth and prosperity for both nations."

'A Game Changer for Canadian Workers'

The Union Minister's X post came in response to the Canadian Prime Minister's X post on Monday (local time), where he emphasised the economic significance of the proposed trade pact, and described it as "a game changer" for Canadian industries and workers.

In a post on X, Carney said, "We're negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses -- unlocking a massive new market."

We’re negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market. We’re working fast — I met Minister @PiyushGoyal to review our progress so far and explore the opportunities ahead for both our… pic.twitter.com/LmiuwQzDmE — Mark Carney (@MarkJCarney) May 26, 2026

The Canadian Prime Minister added that both sides were moving quickly in the negotiations and exploring collaboration across multiple sectors. He said, "We're working fast -- I met Minister @PiyushGoyal to review our progress so far and explore the opportunities ahead for both our countries in energy, agri-food, tech, and education."

India, Canada Aim to Triple Trade by 2030

Earlier, Union Minister of Commerce Piyush Goyal commenced his three-day visit to Canada, as New Delhi and Ottawa focus on resetting their ties with an aim to conclude the Comprehensive Economic Partnership Agreement (CEPA) by the end of this year.

Speaking to the press with Canada's International Trade Minister Maninder Sidhu, Piyush Goyal highlighted the steps taken from both sides to rejuvenate the relationship, mentioning Canadian Prime Minister Mark Carney's visit to India in February 2026, which he said set in "motion the pathway of this relationship."

Underlining the objectives, Goyal said that India not only aims to conclude the trade agreement by the end of this year but also wants to triple the trade between the two countries by 2030. "We had the visit of Canadian PM Mark Carney in India just a couple of months ago. It completely changed the way India and Canada looked at each other. It has set in motion the pathway of this relationship, setting a new agenda, new goals in mission mode. I can clearly see the speed and intent of both sides. "Our PMs (Indian PM Narendra Modi and Canadian PM Mark Carney) have tasked us with not only completing the free trade agreement with a comprehensive outlook before the end of this year or earlier but tripling our trade from a current USD 17 million to USD 50 million by 2030," he added.

Largest-Ever Indian Business Delegation

Goyal said that he has arrived in Ottawa with the largest Indian business delegation in the country's history, showcasing India's commitment towards the relationship.

He also expressed confidence in the leadership of Maninder Sidhu, Minister of International Trade, to drive rapid progress in the relationship.

"I've come with the largest ever business delegation that stepped out of India ever in our history. 112 Indian businesses have taken off from India. This clearly demonstrates that there's a huge interest in this partnership. This is a relationship that'll be very important in the years to come. I have full confidence that under Maninder's leadership, we will make rapid progress," he said.

The Union Minister's arrival in Ottawa commences a three-day official visit from 25 to 27 May, taking place as New Delhi and Ottawa aggressively push ahead with negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA), viewed as a vital step in rejuvenating economic relations between the two nations. (ANI)

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