Politics · India Bureau
India, Canada set 2026 deadline for major trade pact negotiations
India and Canada have outlined plans to conclude a Comprehensive Economic Partnership Agreement by the end of 2026, with both nations also committing to explore a bilateral investment treaty. The commitment emerged from the inaugural Economic and Financial Dialogue held in Toronto.
LSN India ·
Finance Minister Nirmala Sitharaman and Canada's Minister of Finance and National Revenue François-Philippe Champagne agreed on the ambitious timeline during Thursday's inaugural Economic and Financial Dialogue in the Canadian city, aimed at strengthening bilateral economic ties.
Beyond the trade pact negotiations, the two nations have pledged to support engagement between relevant authorities and stakeholders to explore opportunities in cross-border remittances and merchant payments. Officials also flagged plans to initiate discussions on a Bilateral Investment Treaty at the earliest opportunity, signalling deeper economic integration between the countries.
A notable focus of the dialogue centred on digital payment infrastructure. Both nations welcomed the potential to expand the use of India's Unified Payments Interface (UPI) in Canada through partnerships with payment service providers. Such expansion could facilitate faster and more cost-effective cross-border transactions while supporting bilateral trade, tourism, education and the growth of small and medium-sized enterprises in both countries, according to a joint statement released after the talks.
The dialogue underscores New Delhi and Ottawa's shared interest in broadening their economic partnership amid evolving global trade dynamics. The 2026 deadline for the comprehensive economic pact provides both countries with a defined timeframe to navigate complex negotiations spanning goods, services, investment and regulatory frameworks.