Union Minister of Commerce and Industry Piyush Goyal, who on Tuesday arrived in Ottawa, Canada, along with the largest-ever Indian business delegation comprising industry leaders from over 100 companies, aims to fully revive the India-Canada economic relations.
The three-day visit to Canada, covering Ottawa on May 25 and Toronto from May 26-27, is aimed at advancing bilateral trade and economic ties between India and Canada, with a particular focus on accelerating the ongoing negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
Goyal held a series of high-level meetings with senior Canadian leaders and ministers to deepen bilateral cooperation across trade, investment, technology, agriculture and strategic sectors during the day 1 visit in Ottawa.
Canadian Prime Minister Mark Carney affirmed that the proposed free trade agreement with India would be a game changer, unlocking a massive new market.
Both sides reaffirmed their commitment to a balanced, commercially meaningful and ambitious CEPA and directed their respective teams to work towards an agreement that strengthens economic partnerships and delivers tangible benefits to businesses and citizens of both nations.
The envisaged CEPA is expected to strengthen economic partnerships and deliver tangible benefits to businesses and citizens of both countries, deepening the bilateral economic relationship to its fullest potential.
Goyal concluded a productive Day 1 in Ottawa with a warm interaction at a reception hosted by his counterpart, Canada’s Minister of International Trade, Maninder Sidhu.
The visit carries forward the mandate set by PM Modi and Carney during PM Carney’s New Delhi visit in March 2026 and builds on sustained high-level engagement between the two countries since mid-2025.
CEPA negotiations have moved swiftly since the Terms of Reference were signed in March 2025. A first round of virtual talks was held in March 2026, followed by a second round that concluded on May 8, 2026.
A concurrent round of technical negotiations is underway in Ottawa from May 25-29, running in parallel with Minister Goyal’s visit, signalling the seriousness and pace both sides are bringing to the process.
The delegation of over 100 industry leaders, drawn from sectors including energy, mining, automotive goods, pharmaceuticals, telecommunications, artificial intelligence, leather and textiles, reflects the breadth of opportunity both sides are seeking to unlock.
With bilateral trade currently standing at approximately USD 8.5 billion, both governments have set an ambitious shared target of expanding this to USD 50 billion by 2030.
