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What is the story about?
Commerce and Industry Minister Piyush Goyal is set to lead the Indian delegation in business-to-business (B2B) industry engagements in Toronto on May 26 and 27, as India and Canada push to deepen trade ties and conclude a bilateral trade agreement within 2026.
The visit is aimed at translating recent ministerial-level engagements into concrete commercial partnerships across priority sectors, including energy, mining, automobiles, pharmaceuticals, telecommunications, artificial intelligence, leather and textiles.
The outreach comes as both countries target increasing bilateral trade to over $50 billion by 2030.
Speaking alongside Goyal in Ottawa on Sunday, Canada’s Trade Minister Maninder Sidhu highlighted the need for Canada to diversify its trading relationships and unlock an additional $300 billion in non-US exports. Canadian Prime Minister Mark Carney also said a free trade agreement with India could open access to a “massive new market”.
Earlier this month, India and Canada concluded the second round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in New Delhi. The talks, held from May 4 to 8, covered areas including trade in goods and services, intellectual property rights, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade.
In a joint statement issued after the talks, both sides described the negotiations as “constructive and productive” and reaffirmed their commitment to pursuing a balanced and mutually beneficial agreement.
A parallel round of technical negotiations is currently underway in Ottawa from May 25 to 29, alongside Goyal’s visit. The minister is accompanied by a delegation of over 100 industry leaders.
During the first leg of his Canada visit in Ottawa, Goyal held meetings with senior Canadian ministers and officials to discuss trade, investment, agriculture, technology and strategic cooperation.
Apart from discussions with Sidhu on advancing CEPA negotiations, Goyal met Canada’s Minister of Agriculture and Agri-Food Heath MacDonald to explore cooperation in food security, sustainability, agri-technology and food processing.
He also held talks with Canada’s Foreign Minister Anita Anand on strengthening trade, investment and technology partnerships under the broader India-Canada strategic relationship.
The Commerce Ministry said Goyal highlighted opportunities for Canadian investments in India’s infrastructure, renewable energy, logistics, digital infrastructure and consumer sectors.
Last week, Goyal said he would engage with Canada’s “Maple Eight” pension funds regarding potential investments into India. He also identified critical minerals and nuclear energy as key areas for future collaboration, noting that Canada is among the world’s largest uranium producers.
Government officials have said India sees strong complementarity in trade with Canada, with limited direct competition between the two economies across most sectors.
According to official data, bilateral trade between India and Canada stood at $8.66 billion in FY25, including exports worth $4.22 billion and imports worth $4.44 billion.
India’s major exports to Canada include pharmaceuticals, iron and steel, seafood, garments, chemicals and electronic goods, while key imports include pulses, coal, fertilisers, crude oil and precious stones.
The visit is aimed at translating recent ministerial-level engagements into concrete commercial partnerships across priority sectors, including energy, mining, automobiles, pharmaceuticals, telecommunications, artificial intelligence, leather and textiles.
The outreach comes as both countries target increasing bilateral trade to over $50 billion by 2030.
Speaking alongside Goyal in Ottawa on Sunday, Canada’s Trade Minister Maninder Sidhu highlighted the need for Canada to diversify its trading relationships and unlock an additional $300 billion in non-US exports. Canadian Prime Minister Mark Carney also said a free trade agreement with India could open access to a “massive new market”.
Earlier this month, India and Canada concluded the second round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in New Delhi. The talks, held from May 4 to 8, covered areas including trade in goods and services, intellectual property rights, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade.
In a joint statement issued after the talks, both sides described the negotiations as “constructive and productive” and reaffirmed their commitment to pursuing a balanced and mutually beneficial agreement.
A parallel round of technical negotiations is currently underway in Ottawa from May 25 to 29, alongside Goyal’s visit. The minister is accompanied by a delegation of over 100 industry leaders.
During the first leg of his Canada visit in Ottawa, Goyal held meetings with senior Canadian ministers and officials to discuss trade, investment, agriculture, technology and strategic cooperation.
Apart from discussions with Sidhu on advancing CEPA negotiations, Goyal met Canada’s Minister of Agriculture and Agri-Food Heath MacDonald to explore cooperation in food security, sustainability, agri-technology and food processing.
He also held talks with Canada’s Foreign Minister Anita Anand on strengthening trade, investment and technology partnerships under the broader India-Canada strategic relationship.
The Commerce Ministry said Goyal highlighted opportunities for Canadian investments in India’s infrastructure, renewable energy, logistics, digital infrastructure and consumer sectors.
Last week, Goyal said he would engage with Canada’s “Maple Eight” pension funds regarding potential investments into India. He also identified critical minerals and nuclear energy as key areas for future collaboration, noting that Canada is among the world’s largest uranium producers.
Government officials have said India sees strong complementarity in trade with Canada, with limited direct competition between the two economies across most sectors.
According to official data, bilateral trade between India and Canada stood at $8.66 billion in FY25, including exports worth $4.22 billion and imports worth $4.44 billion.
India’s major exports to Canada include pharmaceuticals, iron and steel, seafood, garments, chemicals and electronic goods, while key imports include pulses, coal, fertilisers, crude oil and precious stones.
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