2 hrs ago
Canada and India Target $70 Billion Trade in Five Years
Canada and India want to do much more business with each other.
Their leaders are discussing a trade agreement to make buying and selling between the countries easier.
Canada says trade could grow to USD 70 billion within five years.
The countries are also discussing energy, minerals, batteries, transportation and other projects.
India needs more energy as its economy grows, while Canada wants to supply energy and minerals.
Officials say the next negotiation round will take place in Ottawa, although the article gives different scheduling details.
Both countries hope to finish the larger agreement by the end of 2026.
The article reports different figures for current trade, so the exact starting point is unclear.
Canada and India aim to increase bilateral trade from USD 30 billion to USD 70 billion within five years.
Canadian Trade Minister Maninder Sidhu said the fifth round of Comprehensive Economic Partnership Agreement talks is expected in Ottawa.
India’s Piyush Goyal said negotiations would be fast-tracked, with both governments targeting completion by the end of 2026.
Energy, critical minerals, electric-vehicle supply chains, aerospace, infrastructure, research and investment are key areas of cooperation.
The article cites bilateral trade at around USD 8 billion in fiscal 2025-26, creating a discrepancy with the USD 30 billion baseline cited by Sidhu.
- Who
- Canada and India, represented by International Trade Minister Maninder Sidhu and Commerce Minister Piyush Goyal.
- What
- The countries are accelerating negotiations for a Comprehensive Economic Partnership Agreement and seeking to expand bilateral trade to USD 70 billion.
- Where
- The next round is planned for Ottawa, following the fourth round in Mumbai; the announcement was made at the 2026 G20 Trade Ministers Meeting in Milwaukee.
- When
- Negotiations are expected to continue in the coming months; the fifth round is described as taking place on Monday and elsewhere as beginning October 5, with completion targeted by the end of 2026.
- Why
- The countries want to deepen trade and investment, diversify supply chains, and cooperate on energy, critical minerals and other industries.
Key facts
- Trade target
- USD 70 billion in bilateral trade within five years
- Figure cited by Canada
- Current bilateral trade was described as USD 30 billion
- Fiscal 2025-26 trade
- The Commerce Ministry cited around USD 8 billion, comprising USD 4.67 billion in Indian exports and USD 3.28 billion in imports
- Trade agreement
- Comprehensive Economic Partnership Agreement, or CEPA
- Negotiation timeline
- Both governments aim to conclude talks by the end of 2026
- Next negotiation round
- The fifth round is planned for Ottawa; the article refers to both Monday and October 5
- Canadian investment in India
- Sidhu said Canadian investment in India exceeds USD 100 billion
- Key sectors
- Energy, critical minerals, electric vehicles and batteries, aerospace, infrastructure, research and investment
Quotes
Maninder Sidhu
Canadian International Trade Minister
“Very productive discussions, and both sides have resolved to fast-track negotiations, in view of which our team is now slated to go for the fifth round.”
NDTV
“India's economy is growing at 7% year-over-year, and the country will require 70% more energy by 2035. We have that energy in Canada.”
NDTV
Sources
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