India-Canada Trade Talks Gain Momentum as CEPA Deal Targets $70 Billion Trade by 2030

India and Canada are advancing trade negotiations, with both countries aiming to conclude a comprehensive economic agreement this year and significantly expand bilateral trade.

India-Canada Trade Negotiations Gather Pace

Canada’s Minister of International Trade, Maninder Sidhu, has said that trade negotiations between India and Canada are progressing positively. The two countries are working towards concluding the proposed Comprehensive Economic Partnership Agreement (CEPA), with an agreement expected to be finalised by the end of this year.

Sidhu arrived in Mumbai with a 300-member trade delegation to strengthen commercial engagement and explore new opportunities for businesses in both countries. He expressed optimism that progress on the agreement could take bilateral relations to a new level and deepen economic cooperation.

The proposed CEPA is expected to provide a framework for expanding trade and investment while improving cooperation across key economic sectors.

CEPA Aims to Increase Bilateral Trade to $70 Billion

One of the major objectives of the proposed agreement is to substantially increase trade between India and Canada. According to Sidhu, the CEPA could help more than double bilateral trade from its current level of approximately $30 billion to $70 billion by 2030.

Achieving this target would require stronger business partnerships, improved market access and greater participation from companies in both countries.

The agreement could also create opportunities for exporters, manufacturers, technology companies and other businesses seeking to expand into new markets. By establishing a stronger framework for economic cooperation, India and Canada aim to support long-term commercial growth.

Piyush Goyal Highlights a New Chapter in Bilateral Relations

India’s Union Minister for Commerce and Industry, Piyush Goyal, has also expressed optimism about the future of India-Canada economic relations.

In a post on X, Goyal said the two ministers discussed how the proposed CEPA could establish a solid foundation for increasing bilateral trade and investment.

He described the engagement as an opportunity for both countries to begin a promising new phase in their relationship. The discussions focused on combining the economic strengths of India and Canada to generate mutual benefits and encourage stronger commercial links.

Complementary Strengths Could Support Economic Growth

India and Canada possess different but complementary economic capabilities that could support a broader partnership.

India offers a large domestic market, expanding manufacturing capacity and a skilled workforce. These strengths could help Canadian companies explore new business opportunities, develop partnerships and access a growing consumer base.

Canada, meanwhile, has capabilities in technology, natural resources and innovation. Greater cooperation in these areas could support Indian businesses seeking access to advanced technologies, resources and international expertise.

Closer collaboration could also help companies diversify suppliers, strengthen production networks and build more resilient supply chains.

Investment and Business Opportunities in Focus

The proposed CEPA could encourage investment by providing businesses with a more structured framework for cross-border economic engagement. Improved trade cooperation may help companies identify new markets, establish partnerships and explore opportunities across industries.

The large trade delegation accompanying Sidhu also highlights the importance of direct engagement between businesses and policymakers. Such interactions can help identify commercial priorities and build connections that support future trade and investment.

However, the final impact of the agreement will depend on the terms negotiated by both governments, the implementation framework and the extent to which businesses make use of the opportunities created.

What Lies Ahead for India-Canada Trade Relations?

The expected conclusion of CEPA negotiations this year would mark an important step in efforts to expand India-Canada economic cooperation. The proposed $70 billion bilateral trade target for 2030 reflects the ambitions of both countries to strengthen their commercial relationship.

As negotiations continue, businesses and investors will be watching for progress on the agreement and clarity on the provisions that could influence market access, investment and supply-chain cooperation.

If finalised and effectively implemented, the agreement could help India and Canada build a broader economic partnership and create new opportunities for enterprises in both countries.

Conclusion

India and Canada are seeking to strengthen economic ties through the proposed CEPA, with negotiations gaining momentum and a $70 billion trade target set for 2030. The agreement could deepen investment, expand business opportunities and improve supply-chain cooperation. Its eventual benefits will depend on the final terms and implementation of the deal.