India and Canada have begun the second round of negotiations for a proposed free trade agreement, signalling a continued thaw in bilateral ties and a push to fast-track the pact.
The five-day round of talks under the proposed India-Canada CEPA kicked off in New Delhi on Monday, with officials from both sides looking to advance discussions on goods, services, investment and market access. The aim is to accelerate negotiations and conclude the agreement by the end of 2026, in line with commitments made by the two countries' leadership earlier this year.
The current round is also expected to set the tone for Commerce and Industry Minister Piyush Goyal's visit to Canada later this month, where he is likely to lead a business delegation and engage with industry stakeholders.
The talks follow the first round of negotiations held in March, shortly after Canadian Prime Minister Mark Carney's visit to India and his meeting with Prime Minister Narendra Modi. That engagement marked a reset in ties after relations had deteriorated sharply in 2023.
A comprehensive trade pact is seen as a key pillar in rebuilding the economic partnership and expanding bilateral trade. Currently, India-Canada trade in goods stands at about $8.7 billion, with India exporting pharmaceuticals, machinery, textiles and engineering goods, while importing pulses, fertilisers, minerals and wood pulp.
Both sides are targeting a significant jump in trade volumes to around $50 billion by 2030.
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