NEW DELHI — India and Canada have completed the second round of negotiations for a proposed Comprehensive Economic Partnership Agreement, with both sides reporting progress across several major trade areas.
The talks were hosted by India’s Commerce Ministry from May 4 to May 8 at Vanijya Bhawan in New Delhi and concluded Friday, according to a joint statement issued by the two countries.
Negotiators discussed several chapters of the proposed agreement, including trade in goods, trade in services, intellectual property, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade.
Both countries said they would continue negotiations in a constructive and cooperative manner. The next round of talks is scheduled for July in Ottawa, with additional discussions expected before then.
The negotiations followed terms of reference signed by the two countries’ trade ministers on March 2. India and Canada said they remain committed to pursuing a balanced, ambitious and mutually beneficial agreement aimed at strengthening bilateral trade and economic ties.
The five-day talks in New Delhi came ahead of Commerce and Industry Minister Piyush Goyal’s planned visit to Canada later this month. The visit is expected to maintain momentum as the two countries work toward increasing bilateral trade to $50 billion by 2030.
A senior official said the goal is to fast-track the negotiations so the agreement can be completed by the end of the year, in line with the target set earlier by the two countries’ prime ministers.
The first round of talks for the India-Canada Comprehensive Economic Partnership Agreement was held in March, after Canadian Prime Minister Mark Carney met Prime Minister Narendra Modi in New Delhi.
Carney’s visit marked an improvement in India-Canada diplomatic relations after tensions during former Prime Minister Justin Trudeau’s tenure.
Modi and Carney set a year-end target to complete CEPA negotiations and agreed to deepen cooperation in energy and critical minerals. In a joint statement after their meeting, the leaders said a comprehensive trade framework could serve as a durable economic anchor for the relationship and support a shared goal of expanding bilateral trade to CAD 70 billion, or about INR 4.65 lakh crore, by 2030.
India-Canada bilateral goods trade stood at $8.66 billion in 2024-25, while India’s exports to Canada totaled $4.22 billion.
India’s main exports to Canada include pharmaceutical products, machinery parts and mechanical appliances, iron and steel articles, electronic goods, organic chemicals, jewelry, gems and precious stones, garments and textiles, seafood, engineering goods and auto parts.
India’s major imports from Canada include pulses, fertilizers, mineral fuels, wood pulp, gems and precious stones, aircraft parts, machinery parts, and iron and aluminum scrap.
India’s information technology sector remains the main contributor to services exports to Canada. (Source: IANS)
