India, Canada conclude 4th round of CEPA talks after week-long discussions

India and Canada have concluded the 4th round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) after a week of discussions in India. India’s Commerce Ministry noted that the discussions, marked by strong participation from the Canadian side, were “fast-paced and substantive” and advanced a “shared commitment to a mutually beneficial, fair and balanced trade deal.”Earlier in the day, India’s Commerce and Industry Minister Piyush Goyal had met Canada’s Minister of International Trade Maninder Sidhu to advance talks, where they reaffirmed commitment to expedite negotiations and conclude CEPA at the earliest.India’s Minister had expressed confidence in an early conclusion of the CEPA to help realise the “vision of significantly increasing bilateral trade and deepening of economic partnership for mutual benefit.”India and Canada are looking to conclude a trade deal within 2026 itself and triple bilateral trade from around $17 billion currently to over $50 billion by 2030. Minister Goyal visited Canada along with over 150 business leaders from India in May 2026, where Canada’s Minister Sidhu had stressed the importance of diversifying Canada’s trading partners to unlock an additional $300 billion worth of non-US exports.ALSO READ | Donald Trump bans Canadian goods from US government purchasesStating that an FTA with the $2.5 trillion Canadian economy will complement India’s strengths, Goyal had said that he will speak to Maple Eight pension funds, the 8 largest pension funds from Canada, for possible investment in India.Describing critical minerals for EVs and electronics as another domain where Canada is a possible partner for India, he had said that the North American country can also help India in the nuclear energy sector as it is the world’s 2nd largest Uranium producer.Discussions are being held in accordance with the Terms of Reference signed by the Trade Ministers of both countries on March 2. Detailed discussions have been held on Trade in Goods, Trade in Services, Intellectual Property, Rules of Origin, Sanitary and Phytosanitary Measures, and Technical Barriers to Trade, even as both sides have agreed to continue negotiations in a “constructive and cooperative spirit.”Government sources had earlier indicated that India looks to benefit from complementarity in trade with Canada, as both nations don’t compete in most sectors. Negotiations ahead are likely to cover trade in goods, services, and other mutually agreed policy areas, along with issues like market access, labour mobility, and education.ALSO READ | Mark Carney hits back at Trump, says Canada and EU should ally to protect democraciesCanada represents a market of 41.65 million people (2025) and $2.34 trillion in terms of GDP at PPP. As per DGCI&S data, bilateral trade stood at $8.66 billion in FY 2024-25 (Exports worth $4.22 billion and Imports worth $4.44 billion).Key exports from India to Canada include drugs & pharmaceuticals, iron & steel, seafood, cotton garments, electronic goods, and chemicals, among others. Key imports of India from Canada include pulses, pearls & semiprecious stones, coal, fertiliser, paper, and petroleum crude. Key sectors of India’s services exports to Canada include telecommunications, computer and information services, and other business services. These sectors hold significant future growth potential and are expected to expand further following the conclusion of the CEPA.On March 2, India and Canada launched negotiations for the Comprehensive Economic Partnership Agreement (CEPA) in New Delhi with an aim to finalise it soon. The Terms of Reference (ToR) for the India-Canada Comprehensive Economic Partnership Agreement (CEPA) were signed by trade ministers of both countries and exchanged in the presence of India’s Prime Minister Narendra Modi & Canada’s Prime Minister Mark Carney at Hyderabad House in New Delhi.ALSO READ | Donald Trump threatens EU with new tariffs if bloc makes Canada an ‘associate member’The ToR of negotiations provide a format, frequency, and approach to the CEPA negotiations. In a statement, the Commerce Ministry had said that it will serve as a guide to facilitate negotiations to conclude an ambitious, balanced and mutually beneficial CEPA. During the ceremony, PM Modi had highlighted the goal for bilateral trade at $50 billion by 2030. Canada’s PM Carney termed it the expansion of a valued partnership with new ambition, focus, and foresight.As a follow-up to the leaders’ statement during their bilateral meeting on the margins of the G7 meeting in Kananaskis, Canada, in October 2025, both sides started working towards finalising the ToR for the negotiations of India-Canada CEPA.Canada is home to over 4.25 lakh Indian students and a strong Indian community. India’s Commerce Ministry’s statement had indicated that “strong and enduring people-to-people ties”, which constitute “One Family” would be further reinforced by the conclusion of the India- Canada CEPA.

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