India has dispatched its largest-ever business delegation to Canada as Union Commerce and Industry Minister Piyush Goyal began a three-day visit aimed at accelerating negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) between the two countries.
The 150-member delegation, comprising top executives from sectors such as artificial intelligence, clean energy, critical minerals, pharmaceuticals, textiles and infrastructure, signals New Delhi's renewed push to deepen economic engagement with Ottawa amid shifting global trade dynamics.
ALSO READ | Piyush Goyal To Hold FTA Talks With Canada PM Mark Carney During Official Visit
The visit comes months after Canadian Prime Minister Mark Carney visited India in February-March and both nations agreed to revive stalled trade negotiations.
India and Canada are now targeting bilateral trade worth $50 billion by 2030, a sharp rise from the current trade volume estimated at around $8.5-10 billion.
During the visit, Goyal is expected to hold discussions with Canada's International Trade Minister Maninder Sidhu and Foreign Minister Anita Anand, besides meeting Prime Minister Carney. Talks are expected to focus on trade, investment, energy security, technology partnerships and critical mineral cooperation.
India is also looking to attract long-term investments from Canada's major pension funds for infrastructure, green energy and digital projects. Officials believe Canada's strengths in energy resources and mining complement India's manufacturing capabilities and vast consumer market.
The renewed economic push follows a period of strained diplomatic ties after former Canadian Prime Minister Justin Trudeau alleged Indian involvement in the killing of Sikh separatist Hardeep Singh Nijjar in 2023, triggering a freeze in bilateral engagements.
ALSO READ | Rubio Says US-India Trade Deal Near, Calls It 'Beneficial', 'Sustainable'
However, both sides have since moved to restore ties and revive trade discussions.
Experts said the proposed CEPA could help both countries diversify trade partnerships amid global economic uncertainty and reduce overdependence on traditional markets like the United States and China.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
