Union Minister of Commerce and Industry Piyush Goyal arrived in Ottawa on 25 May 2026, leading the largest-ever Indian business delegation to Canada comprising leaders from over 100 companies, in a landmark step toward the full revival of India-Canada economic relations.
Canadian Prime Minister Mark Carney described the proposed Comprehensive Economic Partnership Agreement with India as a game changer that would unlock a massive new market. Both sides reaffirmed their commitment to concluding a balanced and commercially meaningful CEPA by the end of 2026.
CEPA negotiations have moved swiftly since the Terms of Reference were signed in March 2025, with a first round of virtual talks held in March 2026 and a second round concluding on 8 May 2026. A concurrent round of technical negotiations is running in parallel with Goyal’s visit in Ottawa from 25 to 29 May.
With bilateral trade currently standing at approximately $8.5 billion, both governments have set an ambitious shared target of expanding this to $50 billion by 2030. Goyal also highlighted India’s expanding logistics, infrastructure, and renewable energy sectors as areas offering significant opportunity for Canadian investment.
Source: Press Information Bureau, Government of India, 26 May 2026
