Canada has paused negotiations for a free trade agreement with India and now both the countries will mutually decide about resuming the talks in the future, an official said.
"The Canadian side conveyed that they were taking a pause in India-Canada negotiations on the Early Progress Trade Agreement. This will enable us both to take stock of progress and next steps. We will decide by mutual agreement when negotiations will resume," the official told PTI.
Over half a dozen rounds of talks have been held between the countries on the trade pact so far.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
In March last year, the two countries re-launched negotiations for an interim agreement, officially dubbed as Early Progress Trade Agreement.
In such agreements, two countries significantly reduce or eliminate customs duties on the maximum number of goods traded between them. They also liberalise norms for promoting trade in services and attract investments.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Indian industry was looking at duty-free access for products like textiles and leather besides easy visa norms for the movement of professionals. Canada has interests in areas like dairy and agricultural products.
The bilateral trade between the countries has increased to $8.16 billion in 2022-23 from $7 billion in 2021-22.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
