India, Canada push to finalize trade pact by year-end

Commerce and Industry Minister Piyush Goyal and Canada's International Trade Minister Maninder Sidhu held talks in Mumbai to review progress on the proposed Comprehensive Economic Partnership Agreement (CEPA), signaling renewed momentum in negotiations that have stretched across multiple rounds.

Both delegations reaffirmed their governments' commitment to expedite the process and reach a final agreement at the earliest opportunity. "Early conclusion of the pact will help significantly increase bilateral trade," Goyal said, underscoring New Delhi's focus on deepening economic ties with Canada across multiple sectors.

The fourth round of chief negotiator-level talks concluded this week in Mumbai, marking steady progress toward the year-end target. Officials indicated the agreement would unlock opportunities spanning merchandise trade, services delivery and cross-border investment flows.

Bilateral trade between India and Canada currently stands at $30.4 billion annually. Both nations have set an ambitious target of more than doubling this figure to $70 billion by 2030, reflecting confidence in the economic partnership's potential to generate new opportunities for businesses and workers on both sides.