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Union Commerce and Industry Minister Piyush Goyal held a series of high-level meetings with top Canadian leaders in Ottawa aimed at accelerating negotiations for the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA), with Canadian Prime Minister Mark Carney describing the proposed trade pact as a "game changer".

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Goyal arrived in Canada leading the largest-ever Indian business delegation to the country, comprising representatives from more than 100 companies, in what is being seen as a major step towards reviving and strengthening bilateral economic relations between the two countries.

During his meeting with Prime Minister Mark Carney, Goyal conveyed greetings from Prime Minister Narendra Modi and held discussions on deepening cooperation across trade, investment, technology, agriculture and strategic sectors.

According to the Ministry of Commerce & Industry, both sides expressed optimism over the early conclusion of the India-Canada CEPA and reaffirmed their commitment to a balanced and commercially meaningful agreement. Prime Minister Carney said the proposed free trade agreement with India would be a "game changer" and would help unlock a massive new market opportunity for both countries.

Talks Target 2026 for Agreement Conclusion

Goyal also held bilateral discussions with Canada's Minister of International Trade Maninder Sidhu, where both sides reviewed progress in CEPA negotiations and agreed to work towards concluding the agreement by the end of 2026.

The proposed CEPA is expected to strengthen trade and investment ties while creating greater opportunities for businesses and industries in both countries.

Discussions on Agriculture, Investment Opportunities

In another meeting, Goyal discussed agricultural cooperation with Canada's Agriculture and Agri-Food Minister Heath MacDonald, focusing on food security, sustainability, agri-technology and food processing collaboration.

The minister also held talks with Canada's Foreign Minister Anita Anand and highlighted opportunities for Canadian investments in India's infrastructure, renewable energy, logistics, digital infrastructure and consumer sectors.

Renewed Momentum in Trade Talks

The visit comes amid renewed momentum in India-Canada economic engagement following Prime Minister Carney's visit to New Delhi earlier this year. CEPA negotiations have accelerated since the Terms of Reference were signed in March 2025.

The first round of virtual negotiations was held in March 2026, while the second round concluded on May 8 this year. Another round of technical negotiations is currently underway in Ottawa from May 25-29 alongside Goyal's visit.

The Indian delegation includes business leaders from sectors such as energy, mining, pharmaceuticals, telecommunications, artificial intelligence, textiles, leather and automotive goods. India and Canada currently have bilateral trade worth around USD 8.5 billion, with both countries targeting expansion of trade to USD 50 billion by 2030. (ANI)