India and Canada have renewed efforts to strengthen economic relations by accelerating negotiations on the Comprehensive Economic Partnership Agreement (CEPA), with both countries aiming to conclude the free trade deal by the end of 2026 and significantly expand bilateral trade in the coming years.

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• India and Canada are working to finalize the Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026 to deepen bilateral economic cooperation.
• Commerce and Industry Minister Piyush Goyal confirmed that both countries are targeting faster completion of the free trade negotiations during discussions held in Ottawa.
• The third round of CEPA negotiations is being conducted in Ottawa from May 25 to May 29, 2026, following two earlier rounds of talks.
• India and Canada have set an ambitious target of increasing bilateral trade from around $17 billion currently to $50 billion by 2030.
• The proposed agreement is expected to improve market access, reduce trade barriers and boost investment opportunities between the two countries.
• Key sectors likely to benefit from the trade agreement include energy, agriculture, pharmaceuticals, technology, manufacturing, education and services.
• India currently exports pharmaceuticals, iron and steel products, seafood, garments, chemicals and electronics to Canada.
• Canada exports important commodities to India including pulses, coal, fertilisers, crude petroleum, paper products and semi-precious stones.
• The CEPA negotiations are seen as an important step toward strengthening supply chain resilience and diversifying global trade partnerships amid changing geopolitical conditions.
• Both countries are also focusing on expanding cooperation in critical minerals, clean energy and advanced technology sectors.