Canada and India Advance Trade Pact Following $300 Million Mission

Canada and India are moving closer to finalizing a Comprehensive Economic Partnership Agreement, according to reporting from CityNews Toronto. International Trade Minister Maninder Sidhu recently led a trade mission to Mumbai, Bengaluru, and New Delhi, which included representatives from nearly 300 Canadian exporters and businesses.

Sidhu's office stated the mission resulted in 34 commercial agreements valued at nearly $300 million. These deals cover several sectors, including energy transitions, clean technology, aerospace, infrastructure, life sciences, tourism, and information and communications technologies. During the trip, Sidhu met with Indian Industry Minister Piyush Goyal to advance negotiations, marking the 10th meeting between the two ministers since May 2025.

Prime Minister Mark Carney and Indian Prime Minister Narendra Modi formally initiated these trade negotiations nearly a year ago at the G20 summit in South Africa. Carney, who prioritized resetting relations after becoming prime minister in 2025, confirmed that Modi is scheduled to visit Ottawa and Toronto on Dec. 11 and 12, prior to the G20 summit in Miami.

The push for a new pact follows a period of severe tension; trade talks that began in 2010 were halted in 2023 after the Canadian government accused New Delhi of involvement in the assassination of a Sikh activist in Surrey, B.C. However, the current Liberal government aims to double non-U.S. exports over the next ten years, with a specific goal of raising annual two-way trade with India to $70 billion by 2030. This is a significant increase from the $30.4 billion in goods and services trade recorded in 2025.

Earlier this year, in March, Carney visited India for the first time by a Canadian prime minister in eight years. That visit resulted in 10 commercial agreements worth over $5.5 billion and a $2.6-billion deal to provide India with approximately 22 million pounds of uranium for energy production.