Piyush Goyal, Union Commerce and Industry Minister began a three-day visit to Canada on Monday. This is history in the making as he spearheads the largest-ever Indian business delegation to the country. This is happening at the time when India and Canada have greatly intensified efforts to conclude a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026.
This high-octane visit, which will cover Ottawa and Toronto, is focused at reviving bilateral economic ties while at the same time accelerate negotiations on the proposed free trade agreement between the two countries.
During his meetings in Ottawa, Goyal held talks with Canadian Prime Minister Mark Carney, International Trade Minister Maninder Sidhu, Agriculture and Agri-Food Minister Heath MacDonald and Foreign Minister Anita Anand.
Both sides said that Carney’s recent visit to India has imparted fresh momentum to bilateral ties. PM Carney described the proposed India-Canada free trade agreement as a “game changer” and would unlock a massive new market.
Aimed at delivering tangible benefits to businesses and citizens of both nations, both countries have reaffirmed their commitment to concluding a balanced, commercially meaningful and ambitious CEPA.
Goyal also held extensive discussions with International Trade Minister Sidhu to drive forward CEPA negotiations. The two ministers have thoroughly reviewed progress made so far while at the same time identifying opportunities to expand bilateral trade and investment flows.
Furthermore, both sides reiterated their resolve to finalise an agreement by the end of 2026 which would be mutually beneficial for both the involved parties.
The Terms of Reference were signed back in March 2025, wherein, this promising CEPA negotiations have garnered the momentum which is importantly needed.
Currently, the second round of technical negotiations is underway in Ottawa: For instance, Goyal’s meeting with Agriculture Minister MacDonald was centered on strengthening cooperation in food security, coupled with sustainability and agri-technology.
Adding to this, the two sides also explored opportunities to collaborate in the food processing sector, giving a boost to incomes of Indian farmers and producers.
A Win-win for Both the Parties
During talks with Foreign Minister Anand, Goyal had emphasised on expanding cooperation in regards to trade, investment and technology. Furthermore, he also highlighted the opportunities for Canadian investments in India’s infrastructure, renewable energy, logistics, digital infrastructure and consumer sectors.
Goyal later attended a reception hosted by Minister Sidhu, where he had highlighted India’s rapid economic growth, skilled workforce, expanding market opportunities and entrepreneurial ecosystem.
And in strengthening economic and cultural ties between the two countries, he had also acknowledged the role of the Indian diaspora.
From May 26 to 27, Goyal will lead the Indian delegation through a series of industry roundtables and business-to-business engagements in Toronto. This engagement will be aimed at converting ministerial-level discussions into robust commercial partnerships going forward.
If we speak of the delegation, it includes representatives from over 100 Indian companies across varied industry verticals that encompasses energy, mining, automotive goods, pharmaceuticals, leather, textiles, telecommunications, and artificial intelligence.
With both governments targeting an expansion of trade to USD 50 billion by 2030, India and Canada currently share bilateral trade worth around USD 8.5 billion. This collaboration is expected to further build a strong partnership between the two countries which was facing a sore relationship for quite a few years now.
